I don't think Russia will want that, nor do we want that. Russia will become fully dependent on one partner, and as a former superpower they know what it means.
Its just that India is moving out of block politics, and saying we first. Its better to get together, where interests meet. Its not like the US/West doesn't know this, as many articles have been written about, India not being a partner US hopes it to be vis a vis even China.
"We first"... Yes ok, but without the fully developed high tech industrial base that's local, India will have to engage with blocks to get what it needs.
I just see that india has to ensure it has sufficient buffer to any pressure coming it's way, but the wiggle room might get tight