No, India's role is being scaled back for now, till the US sanctions pressure is sorted. The current waiver will end in April. Talks with US are ongoing.
India Ports Global Limited a state run entity just scaled back it's direct control via officials over the port to avoid sanctions on the related officials.
120 million USD, the amount India commited under the 10yr agreement to develop the port has been handed over to the Iranian side for now. The development and operations will continue in the meantime.
It's a pause and off hand approach for now, Indian government officials have said they are looking at creating a new entity to run operations at the terminal which will be sanction averse.
Tl;dr it's management restructuring.