Is it really possible to earn a living just by trading in Indian market?

What is the initial amount required to start a full-time career in the Indian stock market?

Frankly, the initial amount depends on your experience.
If you have been in the markets for a while you would have seen ups and downs and will be more prudent with your money in that case you will be careful about recording. If you are beginner, chances are that you may make some big loses (and big wins ) atleast until the time you get accustomed to risk management and stuff. Another thing as a beginner is that more than the initial capital you should also be ready to invest significant time for learning. Hard to give a ballpark figure, but manage risk by using smaller amounts of capital if you are just starting to get your feet wet.

There are people who are earning a living trading in the market but they have made plenty of mistakes and learnt a lot along the way.

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