You are for sophisticating a technology that if used can't be controlled. The only usage of which was some 50 odd years ago, and the results were so horrible that it is unlikely that a sane govt. will ever use it again.
So, the only reason to have a deterrence is to make sure insane states like China or Pakistan don't attack us with nuclear weapons. Having a proven weapon and a proven delivery method is sufficient to keep them at bay.
Besides, it underestimates the strength of India to think that it can be armtwisted just because a deal is signed!
You know what - worst case situation is that an investment of close to $100billion would go down the drain.
While that's a lot of money, it isn't a lot for a nation like India, if it wants to do it. It will in no way ruin us, the way people make it out to be.