Sea denial, rather than sea dominance is much cheaper to achieve thru a combination of shore based air power + submarines. If Navy can be persuaded to contain sea dominance ambitions, and concentrate on Sea denial to China in the IOR, we can fashion a strategy 2 embarrass China.
That means investment in AWACs, shore based maritime bombers, [The Sukhoi + Brahmos is an excellent, cheap platform], fast frigates hunting in packs with subs, armed with maritime choppers, etc. These would make life difficult 4 Chinese fleet ops in IOR.
We must have the capability 2 make most Chinese subs surface and/or force surface ships 2 change course. Xi is as vulnerable politically at home as Modi ji has unnecessarily made himself.

The threat of a major embarrassment would force him 2B more circumspect in needling us.
A Indian Navy with such capabilities can be built on our own but we would get help from the US as this strategy meshes neatly with that of US. Besides it is defensive and China could live with it rather than be forced 2 respond to an aggressive move closer to South China Sea.
The problem with sea power is lead time. U have to think 20/30 years ahead, commit resources now & see the force build up 10 years from now.

Given that do we have strategic thinkers in Delhi who are willing 2 go out on limb for that long & commit required resources?

Doubtful.
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