John Glen's second Bond is quite a step up from his first attempt. Some new locations and original stunts bring back some much-needed appeal to a franchise that is a little too dependent on routine. Though when all is said and done, Octopussy is still a pretty predictable and standard entry in the Bond franchise.
Bond is chasing a forged Fabergé egg and ends up in India. There he discovers a Russian general is behind the forgery. The general is disgruntled with his government, as they prefer a peaceful rather than a forceful spread of the Russian ideals. The Fabergé eggs are just a small piece of his plan to dominate the world.
Moore is getting a little old to play Bond, but since these films are borderline comedies it's not a showstopper. It does mean that the action scenes are becoming quite stale, especially when Moore is required to do physical action. Some goof jokes (Bond disguised as a crocodile stands out) and very light-hearted vibe keep things entertaining.