I've hunted in Wisconsin and Michigan, both of which have areas of their respective states that are restricted to weapons of limited range, but both also have areas where conventional centerfire rifles can be used. Neither state has a statistically higher incidence of accidental shootings, not per capita. Indiana should follow their model, with most of the state being perfectly safe for powerful centerfire rounds.
There is no logical reason for Indiana to disallow centerfire rifle cartridges from 243 to the most powerful magnums. The original laws were implemented to restrict harvest of a very limited resource. The laws were not originally written for public safety; that is a fairly recent contrivance to justify their continued existence. Look it up. It has been misinformation and intractability that have kept such absurd laws on the books. One needs no further proof than to analyze the data since PCR's were implemented to understand that there is no reason to not allow hunters to use regular rifle cartridges. The naysayers predicted much doom n' gloom when the lever-action repeaters were allowed, claiming more people would be shot and deer populations would plummet. Every indication is that neither has occurred...and it was ridiculous to think either would happen in the first place.
Furthermore, if you study the potential dangers associated with bullets and slugs that ricochet off hard objects, you will find that slugs pose a far greater danger; high-speed bullets, by comparison, are frangible and unstable in flight when disrupted. Slugs carry much farther after a ricochet than the bullet from a 30-'06, for example...scientific fact.
All told, it is "tradition" and out-of-date information that keeps Indiana's laws the way they are. Fortunately, good whitetail hunters know that if you can SEE 300 yards, you probably won't be seeing a deer. There are exceptions to this, and in many parts of the state, there is not a single valid reason to prevent hunters from shooting cartridges with greater range. Do some research and you'll find that the laws we hunt under are simply not consistent with the facts. Like so many dumb laws, they only exist because nobody has fought hard enough to have them rescinded.