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Conquering Europe is just the first step, and shouldn't be your only focus. Use your strongest naval unit, load it with ground units, and start exploring the other side of the world. You should have a foothold in the New World by the 1700s at the latest.  Conquering America is much more ideal than taking over India since America holds a lot of resources and trading ports for you to use. Some of the best provinces to take in the New World are Huron-Wyandot or Northern Quebec. You aren't likely to be attacked by other nations when you're that far north, making your stronghold secure. You can also easily move south or west to take out the other nations occupying the New World, as they are likely not very heavily defended. If you're using Great Britain, you can start infiltrating America by using your base in Nassau and Port Royal. If your Thirteen Colonies are still under your protection, you can request for their assistance in conquering Native American tribes. You get to fight France as well if you're at war against them; if not, avoid making sour confrontations until you're able to take over the Native Americans. Once you've entered America and taken over the Native Americans' city, build and expand your empire. Upgrade your resources, upgrade your drill building, and draft soldiers to have them stationed in your newly captured land to protect them from any invaders.  A newly claimed city will have a very unstable economy due to the residents' satisfaction. Once you conquer a city, don't forget to repair them. The city needs to be in good shape in order for you to start upgrading and drafting more soldiers. Exempt the region from tax if needed; this will boost the happiness of the residents. Once they're settled down, you can switch off the exemption to start earning income. Build, increase your resource, draft, and then expand. Repeat. With high resources, you don't have to worry about income. Just focus with conquering, and then travel to India to continue your world domination. As your army grows, you may find that your income production does not match the upkeep costs of your military. Strike a balance between what you need to expand and conquer versus how much you can support. Taxes are a great way to avoid bankruptcy in the late game, especially if you are playing as a Monarchy. Tax the wealthy classes to gain big income without inciting unrest. Whenever a city is attached or conquered, the residents' happiness drop dramatically. Rebellion, protesting, and other problems may happen. To get rid of this, attack any rebels that appears near your captured cities. Rebels will put a damper on your economics, and count against your world domination total. As the game starts wrapping up, you will find that you only have a few opponents left. Take them down one at a time, making sure that your forces aren't spread too thin. You will need to start taking out your allies as well. Make sure that you only attack your allies one at a time. If you attack one ally, it will make you other allies mad but they should be too scared to try to attack you. Attacking multiple allies at once will cause them to band together against you.
Enter new lands. Build and expand. Manage your expenses. Put down rebellions. Focus your attention on the remaining nations.