Extreme climate events have been identified both in meteorological and long‐term proxy records from the Indian summer monsoon (ISM) realm. However, the potential of palaeoclimate data for understanding mechanisms triggering climate extremes over long time scales has not been fully exploited. A distinction between proxies indicating climate change, environment, and ecosystem shift is crucial for enabling a comparison with forcing mechanisms (e.g. El‐Niño Southern Oscillation). In this study we decouple these factors using data analysis techniques [multiplex recurrence network (MRN) and principal component analyses (PCA)] on multiproxy data from two lakes located in different climate regions – Lonar Lake (ISM dominated) and the high‐altitude Tso Moriri Lake (ISM and westerlies influenced).