Simply put, what separates white racism from any other form, and what makes anti-black, anti-brown, anti-yellow, or anti-red humor more biting and more dangerous than its anti-white equivalent is the ability of the former to become lodged in the minds of and perceptions of the citizenry.
White perceptions are what end up counting in a white-dominated society. If whites say Indians are savages (be they of the “noble” or vicious type), then by God, they’ll be seen as savages. If Indians say whites are mayonnaise-eating Amway salespeople, who the hell is going to care? If anything, whites will simply turn it into a marketing opportunity. When you have the power, you can afford to be self-deprecating, after all.