India provides the same strategic dividend to "free world" in this neo not so cold war which Pakistan provided in the cold war.
Other than the Geographic continuity and being a strategic competition to China, India also provides the largest market outside China both for Chinses as well as US products. It also provides the service backbone to the US IT industry.
India in Chinese camp is a nightmare US can not afford. It means not only removing the Malaca Vulnerability but adding an ally who can ensure integrity of Chinese intrest in IOR freeing Chinese resources to counter US in Pacific. This is the reason perhaps why China is trying so hard to effect a regime change in India through electoral disruption.
India firmly in US camp is a scenario China would like to avoid at all cost. It divides not only it's attention and resources but closes a potential market for perpatutiy.
Both extream conditions make India vulnerable to direct action by either of the global players drawing it further into a strategic trap.
India needs to negate threat by reinvoking non alignment and creating a neutral pole. This should be equally accessible to US and China within limits of co operation and sovergnity. It could perhaps be the bridge between the US and PRC.
It begins with cooperation with China sans resolution of boundry dispute ( a precondition) and thereafter assurance of neutrality. The end of conflict with Pakistan is also a by product of the same. CPEC becomes CIPEC with portion of belt and road becoming an equatiy participation between India and China.
The IT sector should remain independent of Chinese direct influence and continue to support the US. Indian manufacturing sector should also develop to suit global intrest rather than any pivot powers.
India should secure IOR as a exclusive zone as net security provider with equal rights of safe passage for Pivot Powers. It should develop Exclusive Strategic Zones (Like EEZ) on Djibouti modle to provide OTR to Extra regional forces and thus execute logistic control. It should enhance it's LRMP capability and execute control over both Suez, Babar Mandal, Malaca ,Sunda by means of investment and assymetric capacity. At the same time it should display tranparent neutrality for the same.
It should develop this on Switzerland concept as a neutral no agression zone where no agressive design of any pivot power will be acceptable. In event of hostality between then India should be in a position to keep the SLOC open neutral to all.
This will surely fulfill the aspiration of Indian State, not as a pivot power but a leverage power, which is key to the global balance of power and influence. It creates a viable opposition to the Sino US conflict and creates a geopolitical alternative for the world order who does not want to get into this zero sum game.