Eventually were going to want to expand at least to Chinas borders, so well be going to war with both India and the Netherlands. Its still early in the game so our military strength is pathetic; we cant go to war with both of these civs at the same time. This suggests India should be the first target.
Why?
First, because weve poached Indias iron its likely theyll declare war on us sometime during the next 10-15 turns, so we might as well fight on our terms, not theirs. Second, because the objectives of our first Indian war are limited we want only to capture Delhi and Bombay we will be ready for this war soon, and it wont last long. Once we secure these two cities we eliminate the chance that Bentley might culture flip to the Indians; we gain Bombays spice; and we fatally stunt Indias growth.
More importantly, this furthers our plans for the Dutch war: hopefully we train some elite troops and we move part of our army north and within easy striking distance of the Netherlands most industrious and important cities. The Dutch war requires more preparation time and more troops than the Indian war. By attacking the Indians first we make productive use of the time it will take to build the army that will attack the Dutch from the south.