An Indian state giving Jewish residents official minority status will greatly help preserve the shrinking Jewish population in India. India has historically welcomed people from every religion and race, and today India is a country of several races and groups of people. The Jewish people had arrived to India years back and there is a small group of Jews still living in India.
India has not always done a good job of protecting minority groups in the country. India has recently granted Jewish residents official minority status. This move, if supported by the government, will help preserve the shrinking Jewish population there. Jewish residents should have more protections under the law that will protect them from discrimination and even persecution.
India may currently be a place of opportunity today for the Jewish population but what happens tomorrow? Most groups travel to obtain education and opportunity, so unless India offers those things their Jewish population more than likely will move to other countries like the United States and Great Britain. They eventually will get a brain drain.
I don't see how an official status will change the decline of the Jewish population in India. The majority of Jewish people in India left decades ago, and the population is declining now mainly as elderly people die. Since this is a demographic rather than a social trend, government policy is unlikely to change it.