Indians are cheerleading here but this will trigger a dangerous arms race in the region which could lead to something huge and the biggest loser would be India.
With this SRBM, Myanmar could hit almost all our major cities including Dhaka and Chittagong. To deter it, we will need to have the capability to hit as far as Yangon, close to a range of 1000km, which will require us to develop an indigenous missile program. In the long run, Myanmar couldn't cope up with the arms race against us due to the huge difference between the economies of the two countries. Eventually, all our deterrence would be targeted towards India.