Pallab

Good Effort.
Introduction and India’s approach till now have been decently written. You can also mention that through this stance India has secured its significant defense partnership with Russia, kept door open for partnership with Russia in event of a crisis with China (national interests). Other points are good.
Before starting the next part about India’s possible role in a mediation you should mention that India’s commitment towards dialogue, diplomacy and stability has enhanced India’s credibility and both Ukraine and Russia have welcomed Indian mediation in the ongoing Ukraine crisis. (it shows that India indeed can play that role). This should be enough for showing that India has the capacity.
After that, you need to analyse whether India should play that role or not. Mention the advantages and disadvantages.
In advantages you can mention- such a role could justify India’s theory of all-alignment, bring India closer to UNSC membership, show India as a responsible power especially as India is going to become the G20 president etc.
Disadvantages are that it can hamper India’s present diplomatic stance, in the past such efforts haven’t yielded good results for India and there are no particular advantages for India for such an effort, Cracks in Indo-Russia relationship mentioned by you is fine.
Not clear how this will lead to collapse in Indo-US relationship as you have mentioned, need to explain that. In fact it is the west which wants India to mediate as they think that India has good leverage with Russia.
Way forward is fine, conclusion is also okay except that Indo-US thing.
Keep practicing. 🙂

5.5/15