No South Asian country has played the balancing game between India and China [and US, Japan, EU etc] better than Bangladesh to reap maximum developmental benefits in the form of preferential trade, economic assistance, foreign investments.

Dhaka's success deserves + study. 2/9
China was always in Bangladesh, incl in defence sector, but India’s sensitivity increased since Ladakh standoff. Delhi pushing Dhaka to reduce its relations with China. Dhaka pushing back to ensure max benefits from China without upsetting India. 3/9 https://www.orfonline.org/expert-speak/41935-decoding-china-bangladesh-relationship/
For the time being this remains a signaling game and India-Bangladesh relations mostly unaffected.

But beyond slogans of Neighbourhood First (Delhi) or India First (Dhaka), China’s growing influence is forcing India and Bangladesh to establish + transactional relations. 4/9
All this probably resulting in tough discussions, negotiations behind the scenes, incl tactical tensions, bargaining, pressure, signalling via statements etc.

But I don't see any evidence (so far) that this has fundamentally eroded political trust and bilateral relations. 9/9
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