Yes,It is very safe! Rishikesh is a holy city, and less crowded on average than other cities like Delhi, Kolkata, Varanasi, etc. Many of our students venture out on their own during evenings to explore shops and the many concerts and festivals that take place every week. The people here are very welcoming and friendly, and you could easily strike up conversation with locals and storekeepers.
In our opinion, Rishikesh is great places to transition into Indian culture, because you still get the tradition, friendliness, and vibrancy of India, but less of the poverty, crowdedness, and other potentially overwhelming features that other cities might offer.