The word 'Sovereign' implies that India is neither a dependency nor a dominion of any other nation. but an independent state. There is no authority above it, and it is free to conduct its own affairs (both internal and external).
Though in 1949, India declared the constinuation of her full membership of the Comminwealth of Nations and accepted the British Crown as the head of the Commonwealth, this, extra-constitutuinal dedeclaration does not affect India's sovereignty in any manner. Further, India's membership of the United Nations Organisation also in no way constitutes a limitation on her sovereignty.
Being a Sovereign state, India can either acquire a foreign terrioty or cede a part of its territory in favour of a foreign state.