Hinduism is a religious and philosophical teaching, it is not a social or economic teaching. When talking about individualism it is important to be clear as to what type you are referring to.
There are social customs around Indian culture, such as caste, and those social institutions are socialistic, not individualistic. Indian culture is socialistic, not individualistic, as are many of its social institutions and social constructs.
From a religious/philosophical perspective, Hinduism is individualistic. People are allowed to follow their own individual beliefs and follow their own interpretations of scripture and religious practices. A person adapts his own Ishta which may or may not be those of his family. New sects are arising all the time within Hinduism.
The West is the opposite. In the West people are very individualistic in their social customs and many of their social institutions. When it comes to religion, however, people are expected to follow the practices of the 'established' churches which have established practices.