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Being Indo-European racially mean you have at least some ancestry from the original Steppe invaders who carried the languages. The same for Semitic.
But as far as I know there's no consensus about who were the Proto-Semites and the Proto-IEs are almost certainly to be Steppe invaders with Northern European genetic make up.
I consider Jatts, upper caste Hindus and Afghans/Tajiks mixed Indo-Europeans racially (the same for Southern Europeans). But I don't consider Armenians and some Iranians Indo-Europeans, for example. They barely have any true Indo-European ancestry.
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