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one more thing though i can't prove it with links, i know Nepalese who fought indians in Burma some of whom won the victoria cross. I dont think you can get the victoria cross for fighting against the allies.

Indian National Army was a ragtag band of a few disgruntled Bengalis and others, numbering probably in the few hundreds, with very limited support from the common Indian people. They were at most revered by ultra-nationalists and the far-right of India, sort of in line with Hitler sympathisers in Europe. But the founder of this movement is revered officially, since he was among those who opposed the British. Having said that, not many Indians are aware of Subhash Chandra Bose. Comparatively, the Indian troops and servicemen who fought in WW2 numbered more than a million(closer to 2 million).

About the reason why Indians do not do much on Victory Day, the reason is that India was still under British occupation, and until this occupation ended, there was no meaning to a Victory Day. That being said, the day is still celebrated in Indian government and military circles. In fact, I think the last time it was held, India's Prime Minister was in Europe to commemorate the Day.