Only if the terms of your license say that open carry is forbidden.
I respectfully disagree.
Per Indiana Code:
"Licenses to carry handguns, issued by other states or foreign countries, will be recognized
according to the terms thereof but only while the holders are not residents of Indiana."
Let's take Ohio resident with an "Ohio License to Carry a Concealed Handgun." It clearly states on the back of the License, "...is permitted to carry a concealed handgun in the state of Ohio under requirements set forth in Ohio Revised Code Section 2923.125."
ORC 2923.125 is silent on open carry of a firearm (the entire ORC is silent on open carry of a handgun).
The question then becomes: Is the authority to openly carry a handgun subsumed in the authority to carry a concealed handgun pursuant to an Ohio concealed handgun license, particularly with the application of ORC 9.68?
I can find no interpretation of IC 35-47-2-21 in any Indiana case law. Likely the issue has never been litigated.
Since there is no license to "Open Carry" in Ohio, there would be no license to carry openly that Indiana could recognize.
Take an extreme example for illumination purposes. Vermont that has constitutional carry. There is no license. Are you arguing that a Vermont resident could conceal or openly carry a weapon in Indiana when IC clearly states "licenses issued by other states will be recognized"?
I would not want to test THAT interpretation. (take a look at any Vermont "reciprocity" map).
I think you have a greater chance than not that a reasonable interpretation of IC 35-47-2-21 is that if you have an "Ohio License to Carry a Concealed Handgun" that it needs to be concealed while in Indiana when you are not a resident of Indiana. A reasonable interpretation would also be that a Vermont resident doesn't have a license and could not carry in Indiana, concealed or openly.
If you have case law or an interpretation that says otherwise, I'd love to see it.
Until then, I prefer not to be the test case.