Bollywood movies, yoga, Indian cuisine, etc. may be popular abroad, but that does not equate to "soft power". Real soft power comes from being able to attract, co-opt, and "pull" others towards you and having your ideologies, paradigms, and models adopted internationally. Having soft power is a prerequisite for becoming a global leader of any sort. The U.S. has true soft power because it is able to attract millions of immigrants with its values and institutions, and promote itself globally as a champion of capitalist democracy and the "American way", which is attractive to many in the Third World. Similarly, the Soviet Union had soft power because numerous governments and revolutionary movements around the world derived inspiration from the Marxist-Leninist model and these governments/movements looked towards the Soviet Union as the global leader of socialism. Ancient India also had considerable soft power, due to the spread of Buddhism throughout Asia and the emergence of Indian Buddhist universities like Nalanda and Vikramashila as international centers of learning, with India being regarded as the spiritual and educational center of the world.
India in the present, however, has no soft power whatsoever, and will have to rely on hard power for the considerable future. This means focusing on internal development and expanding India's economic and military strength, rather than promoting an image of India which, quite frankly, is rather pathetic for the time being.