Sure. But be careful and access the risks. Excessive reliance on China will be destructive as well. If India perceives it as a threat, considering it surrounds you on three sides, except a long haul of conflicts. India can afford it, as it can restrict the conflict to the surrounding states which would be affected marginally, but can Bangladesh?
Why do you think, India surrounds us from three sides, and why do not you think that the effective BD-india border is only in our west with west Bengal? In times of conflicts, your military presene in the NE will be untenable for India. These troops will be isolated into many pockets in that region, because BD will not allow any supply connections of these isolated troops with the rest of india.