Its not relevant because unlike Kashmir, making deals over water sharing is relatively easier. And while India could hold out on Kashmir, it could not do so with issue of water sharing. The one relatively successful treaty between the two countries stands and should stand.
The issue here is whether or not India is willing to resolve the Kashmir issue, and whether we should consider allowing India any form of concession till it does.
Nothing will happen and no improvement will ever be made until the Kashmir issue remains to fester.
And until its resolved amicably, we have no reason to want to trust India or its intentions.