How do you reply to the Chinese or even Pakistani situation then?
We put most of our limited money into war-winning equipment for the air force and navy. Plus the army itself has focused more on tracked vehicles, we apparently do not have enough, and other technologies. So this has affected the modernisation of the infantry. China has almost completed the same, deeper pockets. PA prioritised itself at the cost of other services, but with lowered technical requirements, so they are largely APC based.
In any case, the PLAGF's posture against India is defensive, they have an offensive posture in the East, North and South. They plan to use their vehicles to defend themselves against an Indian attack on the plateau. They have to walk in the mountains. We have already seen how disastrous their vehicle-based tactics were in 2020.
Against Pakistan, yeah, a few dozen units of wheeled APCs/IFVs would be great. But I think the IA will prioritise FICV and FRCV for now.