Considering India and China are nuclear armed geostrategic rivals, with ongoing territorial disputes, and not too distant history of hot wars, I think this type of cooperation can be a good thing.
But that’s also why I’m skeptical about how much dual use technology they’d be willing to share with each other. And when you’re talking about space travel, or moon bases, practically everything is dual use technology.
If anyone is unclear why Russia would be involved, it’s their rocket and nuclear technology. Or rather, the Soviet legacy of R&D that is still useful.