PM Narendra Modi of India is visiting Israel now, the first Indian PM to do so. His interaction with PM Netanyahu has been extremely friendly. The reasons for his visit are perhaps obvious, Modi is a Hindu nationalist, the leader of the Bharatiya Janata Party (BJP). His opinions and policies are far away from those of the Congress Party leaders of the 1960’s-70’s. India is no longer a leader of the so-called Third World, and is an enemy of Muslim Pakistan and has serious military problems in Kashmir as well as from Muslim terrorist attacks in India. Most notably the terrible attack on the Taj Hotel and elsewhere in Bombay (Mumbai) in 2008 that killed 166 people. Modi met with the surviving son of the Chabad House Rabbi and his wife who were killed in the Mumbai attack. So Israel and India have a great deal of common interests.
When I worked in the USA I had several Indian post-doctoral fellows, and I also made friends with two visiting Indian Professors from the Tata Institute in Mumbai. They all were very pro-Israel. When I visited India (twice) these friends made it clear that they did not support the very pro-Palestinian stance of the Indian Government then. In fact, educated Hindus are strongly pro-Israel and wish to make a mutually beneficial alliance with Israel.
Although Israel and India have common interests and enemies, and have signed multi-million dollar deals (mostly for Israeli military technology), the two countries are in fact very different. Israel is small and India is very large and has a huge population. India is only now becoming a technologically developed country, although it continues to have a huge poor underclass. Apart from the military area and the common strategic interests, Israel can certainly help India in its period of development, with such improved technology as milk production, farming and water use. The future of Israel-India relations looks very bright.