The short answer would be, yes. The potential for a new arms race is embryonic in stage, but the future could be quite different. China and India have not had the greatest history, to say the least. BBC News has a great article on nuclear proliferation and the future of an already unstable region. But the launch of the Agni-V missile, capable of being fitted with a nuclear warhead, does have its implications.
India has proven to have the capability to reach all of China's major cities by long-range missiles. This puts the United States in an awkward position as India is an ally and China a potential threat. Hence the lack of media coverage. But have no fear, this is not the beginning of a Second Cold War or nuclear winter. At least for the foreseeable future. It is simply a message. India has become a major power in the world, and any country worth it's salt proves it by advancing nuclear technology, but not being secretive about it. Good for you India!
So what's the key to a successful missile launch?
- Make sure it works.
- Don't test your new technology on a holiday dedicated to your grandfather and Supreme Leader.
- Don't make grand announcements about it.
- Keep the media away until it is a success.
- Don't murder your scientists if they make slight errors.
- Don't try. Do or do not.