The moguls were an empire though were they not, and yet never have I seen them conquer all of india as they should. They should at the least know of persia and all of the former khanates. They are slightly too strong, that i agree with. To allieviate this should they not be given to inner turmoil. The moguls were foreigns asked to take over the delhi sultanate (not too sure of this, definately one of the norther kingdoms in india c.1526) to fight the Lodhi sultanate, Babur came down from afganistan and proceeded to bring india under mogul control.
The moguls should have CBs against all of india and should actually controll two of the three lands currently between them and persia (but for the sake of gameplay they should not). They should have excellent relations with persia and most definately royal marriage to cement the deal (if possible), same with the mameluks.
Talking about royal marriages, being persia is a pain when it comes to royal marriages for you may only marry with other shiite nations (in other words the mamaluks). Why can it not be like the orthodox christians?
Back on subject, to keep the moguls from becoming to powerful they should be hit by times of troubles like those of russia, since like russia they tried to unite several extremely diverse regions and cultures into one nation, religious unity should be a bid element in this since the majority of india should be pagan in religion. They should also lose much money in bad government policies and political difficiencies so that they do not build up enormous armies (after they conquer india that is to say)