Any bike is worth restoring, but how much do you want to spend and how much time to spend on it. I got into restoring old bikes as a way of helping deal with depression, it has now turned into obsession with around 20 bikes. So do you want to get dirty and distracted, or is it something special that is worth a lot to you.
The fact that it is an Indian would make it worthwhile restoring, or just to make a reliable rider. It is your bike, so your call.