No. Karat and co may be happy if india neglects economic progress, trying to divert resources to enlarge its military to match china threat. Eventually, in conflict, china may win and Karat can be china's gov-general over India!.
Actually, india is too big a country, un-worthwhile for china to try attacking or colonizing. A growing friendly india, good in sw-tech, can cooperate with china's hw-tech and both can emerge as friendly cooperating powers in the 21st century.
It would be good for india to concentrate on economic development under the liberalized frame-work to become a global 'work-force' power. But, its educational sphere should be rescued from the politicians commercializing it thro private colleges and politicizing it thro quota-raj. Liberalizn of tech-mgmt educ in india on lines similar to the USA will improve the affordability of educ for the masses and the employability of its products, as proper workforce for the globalizing economy.
The need of the hour for india to be saved from her own corrupt and crooked poltiticians, deeply getting entrenched in the field of commercialized and quota-ized, politicized educational system. Even the silver lining of a solution does not seem to be arising. God save India.