Yes to an extent, but also they failed to give India dominion status at the same time as Canada and Australia got it.
World War One made New York rather than London the financial capital of the world. During the next twenty years, the Britain failed to recover the position they held in 1914. Fighting Germany from 1939-41 broke them. Without Lendlease, they would have had to come to terms with Hitler. Canada and Australia were truly colonies of Great Britain, with smallish, largely British populations. India was something altogether different. Who would have ruled this “dominion”? We know what happened after independence.