unofficially the two are at an arms race, Modi just claims the recent weapon purchases are only to "counter Pakistan" which is bs, since one of the first things on India's list is to build 4 new nuclear powered ballistic missile submarines, capable of carrying 12 K-15 SLBMs, and India themselves has the K-4 currently under development, the only other country in the region with this capability is China.
however if you discuss their main weaponry purchases, most of it's based on modernizing their military and or opening new defence relations with countries, and Modi still continues expand his forces, since some still use the Bren LMG, which is considerably outdated.
on the economic note, I have to agree with
@Zhengzhou, it is quite pathetic they are spending hundreds of millions in foreign countries but hardly anything at home, which is actually causing people to lose their faith within Modi's government, he promised them 100 smart cities, and to surpass both the British and Japanese economies by the 2020's yet, it doesn't look like it will happen and they pushed back their goal of being a superpower by 2020 to 2030.
China on the other hand, surpassed Modi's goals, and has began major defence projects such as the Type 001 and 002 carrier projects, Type 075 LHD project, JL-3 has been tested, looking to increase their Su-35 fleet and so on. China has also improved many countries by their economic projects and they even formed 2 major economic corridors: CPEC and CMEC, both which have been a success and helped improved both the Pakistani and Burmese economies, what has India done to really accomplish any said achievement except for some small investments here and there.
