With the rise of China and India as significant players in global political, economic and security architecture, the centre of gravity of international relations has gradually shifted from Europe and North America to the Asian region in the 21st Century. This global power shift has also led to a significant change in politics of powerful countries and the balance of power system. Major powers are trying to re-adjust their policies to maximize advantages and minimize the costs of this change. The increasing power aspirations of China and its more assertive posture in Asia has thrown open many challenges to India’s foreign policy. To overcome these challenges, India too is redefining its position and role—both at the regional and global level. Being the world’s largest democracy and a growing economic power, emerging India is aspiring for a more proactive role in regional and global politics along with China.