With The current scenario going on in International Arena and related aspects, I suggest India should be more regionally active in International Diplomatic Scene.. Being a Sovereign country, Its has all rights to make decisions in the sake of its national interest rather then depending on 'others' interests.. I feel one can be world important country if It become influential in its own region first and it applies on India too.. It may have potential to hold leverage in World level but what's its importance when it can't have good terms with regional neighbors.
The term of Bush Presidency is over and with that the Indo-US great cooperation.. With new Obama Presidency, India is now kind of out of US diplomatic radar. With This earlier Indo-US new found 'friendship' India had nearly lost its some of all weathered friends and created apprehension in some neighbouring countries.. Its very clear that US has tendency of using other countries for its own motives and then leave it after on its own. It was time of illusion of accomplishment when we were in US's 'good book'. But it hardly benefited us, excluding Indo-US nuclear deal, which is beneficial in some other way to India (though basically for US only).
Some current events shows India have started renewing its relations with its old allies and making some good progress in diplomatic field. First I would mention Indo-Bangladesh relation. With new government of Sheikh Hasina and her India visit, We have come across to greater understanding and spirit of Mutual cooperation, Bangladesh, with its recent election proved the fact that common people always want Peace and Progress and that's why all those parties preaching religious fundamentalism have suffered defeat. India has also made good progress in rebuilding its relation with Bangladesh and Now out of all neighboring countries, It seems, that After Bhutan, India's having good friendship spirit with Bangladesh.
Russian Prime Minister Putin state visit, India & Russia have seemed to regain its old and positively cordial relation. Many matters were discussed and Russia's declaration of not selling Arms and Weapons to Pakistan is significant. With Russia's support India can have some ground in regional scene. India and Russia have been great friends and It was only Russia which have helped India unconditionally.
India must work hard to have good relation with Iran, which has faced few setbacks after India's voting in IAEA and further prejudices created with India becoming pro US. India must go after IPI project. India and Iran mutual cooperation can be helpful in making India's role further significant in Afghanistan and undermining Pakistan role. India's decision of attending meeting "Nuclear Energy for all- Nuclear Weapon for None" (despite US objection) is positive step in having good relation with Iran.
With China, India needs rather different point of view for building proper relation. After 1962 war, we have adopted more defensive policy for China. Being the two oldest civilizations in the world, Indians and Chinese still don't have proper understanding and exposure of each other. Still these two nations hold so many misconceptions between them. China side stills trying to calculate India's various policies including on Tibetan issue and India side still intimidated of another China attack. We need massive confidence building program with basic level. We have to find out basic points on which we can have good relation and with new found amicability, we can sort out other issues esp border demarcation.
India must not be some other country's 'Concubine' but must have its own strong holding in World affairs with good understanding in Its regional area and players.