Some cultures do take offense, however, when they feel their religion is mocked. I wasn't aware Hindu cultures reacted as negatively as Muslim cultures do when Mohammad is mocked.
It's not the same. Many Muslims believe that Islam has specific prohibitions against depicting Mohammad visually, whether he is mocked or shown in a positive context. Hinduism has no such rules against depicting gods and there are plenty of Bollywood movies that are based on Hindu mythology.
That's not to say that conservative, religious Hindus wouldn't take offense to a Hollywood portrayal that they felt was negative. Which I think would be similar to how conservative Christians would feel if they believed Jesus was shown negatively. I remember when there were huge protests over the dream sequence in Scorsese's Last Temptation of Christ.