Kanye West just got hit with another major blow ... 'cause an upcoming concert in India has been suspended over security fears.

The controversial rapper was supposed to perform May 23 at Jawaharlal Nehru Stadium in New Delhi ... but organizers White Fox announced Friday they're axing that date after government and police warnings tied to the capital's current high-alert situation.

The organizers said safety comes first ... especially after spending months prepping what they claimed would've been one of the biggest live productions India's ever seen.

A source tells TMZ the show is being rescheduled for October -- but for now, fans are getting full refunds for the nearly sold-out suspended concert.

The gig had already been delayed once before from its original March 29 date because of rising socio-political tensions.

It's another brutal setback for Kanye as he keeps trying to rebuild his international touring career after years of alarming behavior and controversy. A UK festival he was headlining was also recently cancelled as he was banned from entering the country, and he was forced to suspend a show in France for similar reasons.