India has not accepted the Step-through Motor Bikes from Hero Honda and Kinetic. That does not mean that it will not accept one from TVS.
If my memory is correct, Honda Street is a grand success in Japan. Once Hero Honda Chairman Munjal has said that he will come out with a better introduction & growth for their Hero Honda Street again in India
My perception is that these kinds of motorbikes will be less accident prone compared to the standard bikes on the road. These will have easy maneuverability and with more driving comforts.
May be having lesser economy on the fuel front. May be the Indian customer wants a petrol tank in the front to keep his children on it and his wife at the back so as to use as a family vehicle rather than a personal vehicle. An extra amount of marketing and may be a TV Serial or a Film based on various options of this Step through TVS NEO may kindle the Indian Consumer

Bebek, as those bikes are named as.
The Kinetic version of bebek was K4 and ofcourse there was Hero Honda Street but unfortunately they were not a good success.

Let us examine what could be the reason...
Compared to other countries, in India a breed of vehicle named as "Scooter" were so dominating that something without fuel tank in front yet unusable space can't really fit in minds of Indian consumers. Still, small level of businessmen looks for Scooter for their daily maneuverability as it may somewhere also help in the situation where they may need to carry some goods ... related to work.
This is one of the reason I see..
Secondly, bikes are looked upon in India more as powerful vehicle (though still Indian bikes are not yet powerful) so It was hard for Indians to accept bikes which were neither scooter.. nor bike .. bcz they were simply underpowered.
Thirdly.. there was a time when small bikes like LUNA, panther etc. were very popular.. (they still are in some part of country), they are under powered bike and something .. like miniature version of bebek, they were popular because of their light weight ie. easy to handle even for small person as well youngster.
So this again narrows space for original bebek.. as Indians already have their version.. cheaper and usable. Moreover,
No one wants a mere bebek on price of a full fledged bike.

I hope that was helpful to you, I will try to write a comprehensive note on above soon.