The India-based Neutrino Observatory (INO) will host a 50 kt magnetized iron calorimeter (ICAL@INO) for the study of atmospheric neutrinos. Using the detector resolutions and efficiencies obtained by the INO collaboration from a full-detector GEANT4-based simulation, we determine the reach of this experiment for the measurement of the atmospheric neutrino mixing parameters ($sin^2 theta_{23}$ and $|Delta m_{32}^2 |$). We also explore the sensitivity of this experiment to the deviation of $theta_{23}$ from maximal mixing, and its octant.