There is considerable insecurity in the Russian and Indian camps with India's tilt towards the U.S as far as the relationship between Russia and India goes. While most authors spin the tale as India's fault, the truth however is evidently different. Russia has been in China's camp and selling it sophisticated equipment much to India's displeasure. Now, that does not mean India should whine and continue to source weaponry from Russia. It did exactly what was needed - that is to extend military ties with the U.S
In more than one way it was Russia and it's allegiance to China that caused India to involve U.S in the mix an not the other way around as it is made out to be.
India however is not missing out on anything--at least as far as sophisticated weaponry is concerned since it can now source it from any western power. Russia on the other hand suddenly finds itself competing with other suppliers where previously, it was a given that no competitive bid was ever necessary.
In spite of all the shuffling, Indo-Russian relations are relatively warm. Russia knows more than anybody else that it can completely ruin it's relations with India which is still a bigger market compared to Pakistan and it would also want to be part of India's emerging status and markets. It is also aware of China's duplicity in stealing technology under the guise of purchase. Every country wants to be a regional power and will think of it's own interest. Given that India, China and Russia are powers in their own right, no one will want to disassociate themselves with the other since none have established themselves to do so.
Lastly, the Pakistani excitement is expected but given the bigger picture any weapons sale that could irritate India is ruled out. A few helicopters, engines and guns may be expected but weapons sale of potent fighters can be ruled out.
Once all the dust settles, remarkably India, Russia and China will all do business with each other and India will once again emerge the master of non - alignment by slightly aligning and slightly misaligned with countries in this new design.