He will be sidelined for seven to nine months after having surgery on Wednesday.
"To say we are gutted would be an understatement; he is such a great boy and has worked so hard that he deserves better luck than this," Liverpool manager Juergen Klopp said on the club's website (www.liverpoolfc.com).
"It is typical of Danny's personality, on and off the pitch, that he picked up this injury to his knee when courageously trying to win the ball back for his team by making a tackle."
Ings, who was returning to full fitness and had made two substitute appearances this season, missed most of last term after damaging the anterior cruciate ligament in his left knee in his first training session under Klopp.
Liverpool rejected several offers for Ings in the close season after he had returned ahead of schedule as a substitute against West Bromwich Albion in their final game last term.
(Reporting by Simon Jennings in Benglauru, editing by Mitch Phillips and Ken Ferris)
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