sancho
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You are absolutely correct. Other than aircratf carriers, Russia can build everything else. Let me share with you what Chinese military commentators think as to why the overhaul takes so long. In their opinion Russia is making great use of this oppotunity to re-learn how to build them in the future. The whole project helps to build facilities, train designers, engineers, and workers. In other words, Russia goes to school with its tuition paid by India.
No doubt on that, they lost some knowledge and facilities in the fall of the Soviet Union and now has to build it up again, the long time they needed to modify the Gorshkov is for sure a proof for that and that they are learning again. Another proof is, that they went for French Mistral class LHDs, build under licence instead of developing similar vessels on their own. On the one side, they also use the advantage of an open European defence market here, but they opted for the costly deal, which includes licence production under ToT because they need to get these know how again.
We pay for their learning curve, their operational capability and even fund further developments for them, but the outcome is very favourable for us as well, because for Russia we are not only a source of money (they could have the same from China as well), but the only reliable partner for further developments and politically India is a key for them as well, be it to western countries or to Asian. So it's a mutual relation where both sides have things to offer, what the other one needs!