Indeed. Given the commonality between the B and M Rafales, it also presents leverage against Russia for future MiG-29K purchases (since India is building two carriers in addition to buying the upgraded Gorshkov)
On top of that it receives one of the most advanced Gen4.5 platforms out there, a platform that is more than capable against probable foe nations (two guesses), a platform that is excellent in both air-to-air and air-to-ground, and a platform that bumps up the falling numbers of the IAF. Furthermore, India gets
extremely favorable transfer of technology terms, getting kit and know-how that they simply could not have gotten from anyone else. Some of the avionics and other suites on the Rafale, such as the AESA and the SPECTRA system, are definitely golden apples. There are also costs savings (similarities to the Mirage 2000 that India already operates), and the weapons are the same. Talking about weapons, the Hammer PGM totally proved itself in Libya, and they will probably be getting the SCALP standoff munition. The Indians placed a big order for MICA air-to-air missiles for their mirages, which makes sense considering the Rafale also uses those. Add to this the Meteor BVRAAM that the Rafale (as well as Eurofighter and Gripen) is able to use, and a Meteor-AESA mix will be formidable. Of course the Rafale M has automatically become the lead contender for premier fighter in India's future carriers (I doubt the MiG-29K will be the premier fighter in the future carriers ...going forward it will probably be Rafale + Naval LCA).
And ofcourse - no political strings.
Anyways, good choice by India.