If India can somehow strengthen its foreign relations and get around to solving at least some of their domestic problems then that could arguably be a start to perhaps becoming a great power. India certainly has a very huge country and so it may have the potential to become powerful.
India is relatively a great power already, at least compared to most of its neighbors. In terms of rivaling China, the UK, Japan or even the United States, India has a huge population and considerable landmass which could allow for great power status. India also has warm water ports and many natural resources.