Inida and China agree to form Partnership
India offers another round of naval exercises with China
There are many, many other articles about recent (last 12 months) announcmentes by both countries covering stronger economic ties, closer political ties, joiunt military exercises, border agreements, etc.
"Confidence building" measures and military cooperation are time honored gestures of peaceful intent, commonly enacted elements of diplomacy, not the gearing up of an incipient military onslaught. Who are they going to attack?
It is in India's as well as China's interests right now to do this, but to infer an incipient threat against the US seems a reach. India is wise enough to know their future flourishes with friendly relations with the West as well as the East. In the absence of a rigid Cold War, these are not mutually exclusive goals, nor are they necessarily a revival of the cynical "nonaligned movement" of Nehru.
No friend of China here, nor do I trust their ulterior motives, but these actions appear to me to be simply rational steps of international relations. Each nation is better off with the other a cooperative friend than a rival. If something ominous evolves out of this, we'll know it soon enough.
India has military exercises with a host of countries including Singapore, China, France, UK and the US. Military exercises mean nothing. India is aware of China propping up Pakistan and Bangladesh as a counter to India, Indo-China alliance can never happen.