During the height of the Cold War, India used to be a faithful ally for the Communist (USSR). Entire west and the countries like Taiwan and Japan was with the Americans. American allies prospered and India lost out on many deals. What did India get out of that deal? Kalpakkam and some broken MIGs.
After screwing around for 50 years finally during the nineties Indian politicians had a brain blast. They started shifting their alliance towards the American, which was ably aided by the collapse of USSR. Now, within a short period (10 years) Russia with its Oil power has started to flex its muscle. America now is losing; an unpopular and costly war, Credit debacle, housing bubble and low consumer confidence are pushing the country down faster than ever. America now is clueless, they can’t act against Russia now, heck they can’t even act against Iran. On the other hand Russia is booming. The only thing close to Russia is China. But Russia has something which China doesn’t; Russia has failed once and it’s a learned beast now.
So the million dollar question is where does this put India?