Hi Chakkarakutti,
It is permissible in the Catholic Church to marry outside the Church. Ask your priest about the specifics.
It seems that the religion your boyfriend follows is from when St Thomas went to India–how different are his current beliefs from those of the Catholic Church?
The main problem I see with Catholics marrying non-Catholics is that their differences in beliefs can cause conflicts, sometimes conflict which the couple cannot foresee, such as how to raise the children? It is often easier to agree in the theoretical case but in the real case all sorts of things come up, including the expectations of the two families.
In the USA (where I am) most Catholic–non-Catholic marriages are to Protestants who have quite different beliefs and that can cause a lot of strain. Also, I think that differing levels of commitment to the spiritual life can cause stress as well.
Talk with your priest, because he will be able to answer your questions and hopefully also help you through the decision-making process. He’s probably seen this before…