arp2041
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But still, since none of the neighboring countries comes even close to the current capability of IN, their importance in a war in this area is minimal. Even in a war against China, IAF and IA are more important, because defending the Indo - Chinese borders will be the key, not sending a surface fleet to the east. That is the reason why INs budget was lower in the last decades, but why their budget will be increased in future, since power projection and especially the nuclear triad will become important for our defence too. Developing and operating SSBNs and SSNs will be very costly, not to mention at least 3 carriers.
I think India is now understanding that a full scale conventional conflicts like 1965 or 1971 are near impossible, be it China or Pakistan, no country wants war with India for the simple reason that the nuclear weapons capability that all the 3 nations possess makes MAD scenario possible which no country will ever want (but a limited war like Kargil is possible), so now India is thinking that naval power projection or naval diplomacy is more important than maintaining lakhs of troops on borders, this will ensure that Indian interests are taken care of without India having to fight a war (just what the US does).