The long and short of it is that the market to India from MAN and BHX is going to be very similar, given 100 miles down the road there's a myriad of choice to India it would seem the sensible option is for AI to start from MAN and service Brum and the West Mids from either LHR or MAN given the relative close proximity whilst better serving the population from the North West and Yorkshire with a more local direct option.
I'm sure we can all reasonably agree that aside from seeing a rather attractive 777 landing and taking off, and AI 777's are pretty attractive there's little to really gain from having them serve here. Jet would be different as they seem to have a strategy and a general clue but I'm really not so sure we should be falling over ourselves to attract AI. When they served here most people I know who were headed to India flew LH or EK due to the better flight times, reputation, price and service.