This is not true. Currently, our armed forces sport very outdated equipment, which might be okay for fighting Pakistan but not China.
For example, a large part of our airforce is still outdated Mig-21s, not to mention our dwindling squadron strength. The addition of more LCA/Rafale will offset that balance a little.
Our army is still under-equipped and ill-prepared. Our T-72s are hopelessly outdated against Chinese tanks, whereas BMPs are tin cans. We need to orient our forces to a high-mobility mechanized infantry. Even our basic squad-level weapons are outdated.