To an extent but this M777 purchase is for a very specifc purchase- the Indian Army's Mountain Strike Corp (MSC) being raised to fight in India's North and North East. The idea of the M777 is to be air-mobile with the IAF's CH-47Fs:
This is so the IA can have 155 calibre arty in the mountains where heavy, truck mounted, MGS or MLRS cannot access.
The IA is also procuring 5-6,000 arty guns (of different kinds) over the next 3 years:
SPG- L&T-Samsung consortium making the K9 in Pune:
Dhanush- being made by OFB:
MGS- likely the NEXTER CEASAR ( another L&T consortium effort):
All "tube" arty is seperate to the Indian Army's MBRL Pinaka (next generation version with greater range being developed) and Smerch being inducted continuously:
India to boost its artillery forces with 6 new regiments of Pinaka Multiple Launch Rocket Systems | Defence blog
Pinaka Mark-II rocket successfully test-fired | india | Hindustan Times
Pinaka Mark-II rocket successfully test-fired - The Economic Times
Oh and not to forget the 300+ KM Brahmos regiments:
The Indian Army's arty regiment is going through a lot of transformation as we speak