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Traditionally, India has been a follower of non-alignment and has respected values of sovereignty, Integrity, and security. India has also emphasized international laws and obligations on multiple occasions. Russia has been a traditional friend of India and, it has supported India on multiple occasions on Kashmir, and nuclear capability on international forums. Further, Russia is India’s largest exporter of defence in the world. 

The recent developments in South Asia have not been conducive to India. Indian soldiers were involved in the clash with Chinese soldiers in Galwan and there is ongoing talk regarding de-escalation amidst the report that China is building villages in the Indian territory. 

Russia,  the aggressor has been supported by China and has said that ‘Russia attack to Ukraine should not be considered as an invasion. Russia’s growing proximity with China and India’s traditional relationship with Russia are the two strings that shape its diplomatic dilemma. 
The USA a strategic ally of India, and a member of the Quad group,  expects Indian support in Russia's invasion of Ukraine. Further, many European nations have criticised Vladimir Putin for the invasion of Ukraine; various nations have already imposed sanctions on Russia. 

The dilemma with India is - while it does not want to lose its traditional ally in Russia, it does not want to lose sight of its strategic partners in the USA, Australia and France either, to deter China and its actions in the Indian Ocean. India is indeed walking on the tightrope. 

Till recently, India's action has been favourable to Russia: India abstained from voting in UNSC where there was the proposal of sanctions on Russia. Russia is still India’s largest defence exporter, India has signed an important deal on S400 anti-missile defence system and is expecting its delivery.  India has said on multiple occasions that Russia and Ukraine should talk directly and solve their issues diplomatically. 

On the other hand, India is also providing aid to Ukraine to recover and stand on its feet. This balancing act of India is being monitored by the world closely as it engages with China.