Not really.They don't have a operational carrier atm,its a showpiece by and large breaking down in training exercises.If u think they will go from that to 5 carriers in 10 yrs ur deluded.
As for the cruisers they are not as big a threat as carriers or SSNs.It only takes 1 brahmos from our entire brahmos equipped fleet to take out a cruiser.We can attack them from the air from andaman with sukhois and P-8I,from undersea with submarines and from the surface.Without carrier cover and SSN cover cruiser is kaput.Cruisers are great escort ships for carriers,but they are big.costly and vulnerable also.Especially when attacked from 3 dimensions.
As for firepower ..Our destroyers have better sensors -state of the art israeli AESA,latest German Active sonar ,better anti ship missile in brahmos than theirs and better SAM in active seeker barak-8 than the old hq-9 .And kolkata also has deckspace to hold double the number of VLS cells it holds now,but not has been equipped but can easily be if needed in mid life refits.So overall i'm not realy too worried.
Simply put ,u can't do much in the IOR with surface ships alone because you will get assaulted simultaneously from air,sea and underwater by IN and IAF around andaman.Especially with the whole fleet and sukhois being armed with brahmos.No flotilla can long withstand such punishment.You need silent modern SSNs in large numbers to create problems.
Finally chinese navy simply lacks enough fleet replenishment vessels to support the kind of grand armada you visualize away from their shores.
We do not need to build as many ships as china at all.Because we will be fighting in our backyard while the chinese thousands of miles away from home.And above all we have our unsinkable carrier in andaman to relentlessly pound any chinese surface flotilla that enters IOR with hostile intentions.On top of that your assumption is based on the fact that china will continue to lead while we will stay stagnant,whereas in reality chinese economy is currently stagnating while our growth has overtaken them.
Come and enter the IOR with hostile intentions,not a single chinese ship will return.This is not philipines,your delusions of grandeur will end in humiliation before andaman.Better stay at home and worry about the samurai who you have awoken from a long sleep.
India is simply no match for China in a war. China will whip India so bad in an all-out war that India will most probable disintegrate into it's many constituent parts.
I know you Indians are nationalistic but it is really silly to think that India is any match for China. China is going head to head with US in the coming decades and countries like India better keep out of the contest if they know any better.
India's economy is exactly 9 years behind China's. China GDP was $ 2 Tr in 2005.... India's was $ 2 Tr in 2014. If you take PPP GDP, then it is even less. Given that GDP in China is slowing down @5% and India is gaining growth @ 9% and counting, it shouid take India about 15 years to reach the $13 Tr range and 20 years for $ 20 Tr. Which is where China may be too. So, the "greatness" of China over India is vastly exaggerated.
India and China have very different approach and doctrine to military strategy and defence. To say that China would be able to come all the way to IOR to wage a fight with India is a unsustainable at present and impossible in 10 years time.
You really need to learn some basic economics.
You have neither taken into account inflation or the continued growth that China will experience.