What are our strategic goals in aligning with the USA? If it is to contain China, let us be clear that it is India which will be a battlefield, not the USA.
A military alliance with the USA, formal or informal, will mean that India will be sucked up in Sino-American disputes. We have disputes with China, but they are just a schoolyard brawl compared to the looming USA-China rivalry for resources and power balance in Asia.
USA has nothing left in its economy, except armaments, which is what it is selling to us. Its not as if we are getting stuff free. Yes, we should buy stuff where ever we get best, but it must come with tech transfer. Will the US give that?