Josh,
Here is the absolute clincher:
Indian Navy was given an aircraft carrier a few decades before it was really ready for it. I believe India started the process to buy its first A/C even before it had an Indian Admiral: There are many open-source opinions from senior Indian Navy officers expressing dismay at that elephantine purchase forced on gullible Indian politicos by the British Admiral-on-loan at that time to pay off Britain's sterling debts. But the British had also taught IM an even more important lesson in dealing with civvie politicos "if you are getting screwed and can't help it, enjoy it". So Indian Navy apparently set about trying to build up its resume by gaining valuable experience in a position it was not really ready to be in. For such a small and relatively new Navy, IN is remarkably mature because of that experience.
Next problem - which persists to this day - was that once India got one A/C, it became the prime target of any opposition (in this matter India is lucky that the opposition has been remarkably incompetent). Basically an Indian A/C (or for that matter Thai, Italian, Spanish or even French and British ones) is the lone elephant on the battle-field which everyone knows had a very high-ranking king (now symbolic) on it. Draw your own lessons from Indian history about what happens when one side has isolated the elephant carrying the king. So as you can see India has always been worried about it. Only now does it have enough resources to invest in a handfull of 40K tonners. You can bet it wouldn't want to make the same mistake (albeit not one of its voluntary making) again! It will check its strides so as not to go off balance.
Make no mistake that the gravest threats to India were never military. India is remarkably well defended by the Himalayas on most of its land borders (try defending the same if it was plains with mechanized divisions). Even though it has long coastlines, they are wedge-shaped and compact. With wise and honest allocations of its "just 2.4% of the GDP" it can quite easily manage its military threats. Especially with the rate of India's rate of GDP growth. If you over compensate on this field, you leave yourself unbalanced and open to all kinds of other attacks (where indeed the threat is much greater).
Last edited by Cactus; 25 Aug 07, at 20:58.