Can Muslims give their children non-Muslim names?

I am asking merely out of curiousity. The name "Aravind" is from the Sanskrit *aravindam*, which means "lotus." While the word merely indicates the flower, the word is often used as an adjective in Hindu literature to refer to Hindu deities. (e.g., *aravindakshan*, the lotus-eyed;) Is "Aravind" an allowed name for a Muslim?