No, this "balancing" in the style of the Indian establishment just shows insincerity, selfishness, immorality, cowardliness in not opposing NATO scheming and in fact readiness to go along with NATO is genocide, war crimes etc.
For example, the BJP government in India of 2003 had readied 17,000 Indian army soldiers to join the USA-military-led alliance in the invasion of Iraq, in the continued oppression and genocide of Iraqis. It is only the opposition on the Indian street by the civil society and in the parliament by opposition parties that prevented the ready-to-to deployment of those 17,000 Indian soldiers. In 2011 the Kuala Lumpur War Crimes Commission declared Bush jr and B'liar guilty of genocide and crimes against humanity about Iraq and they were declared wanted under international arrest warrant. If the Indian army had joined the American military, British military, Australian military etc in Iraq, the Indian contingent being the second-largest after the American would have led to the Indian PM Vajpayee also being under international arrest warrant by the Kuala Lumpur court as well as for the Indian army commanders participating in those murders of Iraqis.
Vajpayee's BJP sucessor PM Modi now isn't doing the opposite thing in case of Ukraine. Vajpayee had readied 17,000 Indian army soldiers to join the America-military-led alliance there but Modi has not at all readied 17,000 Indian army soldiers to deploy to Ukraine in support of Russia and its alliance consisting of Syria and soon-to-come Belarus and possibly North Korea. This non-deployment despite Modi calling Putin as "old friend" in 2016 during Putin's visit to India and in the same visit Modi speaking a Russian saying "An old friend is better than two new friends". Parallely Indian military is doing war games with USA military in Kashmir and participating in the anti-China alliance in the seas called Quad. China though I don't agree with its Capitalist system has been supplying Russia with machinery in Russia's current war in Ukraine. So what is Indian establishment led by Modi trying to do and say here for "old friend" Putin and "One old friend" Russia ? Fence sitters like Indian establishment are never to be trusted. We all know the internal situation in India.
Technocratic yes which is why Bdesh is the most sane society in South Asia.
Not every time.
In 1951, just four years after Pakistan's establishment, the leftist poet Faiz Ahmed Faiz and his Communist and Socialist comrades in the military, civil society and possibly bureaucracy attempted to take over the governance of Pakistan. They didn't succeed. How wonderful it would have been for the region and the world had they succeeded. The government jailed them and their opponents now call that attempt as "The Rawalpindi Conspiracy" in style of the British colonial government which had previously so named such progressive attempts or movements, like the "Meerut Conspiracy Case".
In the 1980s there was very real chance of the Tableeghi dictator Zia ul Haq being overthrown by Communists and Socialists which would have brought USSR's influence more into South Asia and would have made the Indian Communists attempt their own overthrowing attempt and it was this fear that made Indian PM Rajiv Gandhi want to help Zia ul Haq back to power if overthrown. Neither USA government nor Indian government wanted a Communist Pakistan in addition to the existent Communist Afghanistan being assisted by USSR.
And then were the years of Parvez Musharraf who took on the mullahs like by raiding the terrorists of Lal Masjid and then countering the mullahs on televised debates and liberating the ladies. He also presented a wonderful solution for Kashmir for the interim, called
"Four point formula". He drafted it at risk of angering the irrationals in Pakistan who want war including that nonsense called Ghazwa-e-Hind but unfortunately when he took the "Four point formula" to India in 2001 it was rejected by the BJP government and by that idiot mullah in Kashmir, Syed Ali Shah Geelani. If it had been accepted and implemented we would have had a peaceful Kashmir and South Asia now 21 years later.
So a mix of things.
Shouldn't with Indonesia. BD's official name is People's Republic of Bangladesh, fulltu Socialist style and its original constitution has elements of Socialism which you can write more on and Indonesia is a country that now has rule descending from General Suharto who at the behest of his NATO masters conducted the biggest genocide of Communists ever - up to three million Indonesian Communists, supporters and sympathizers in 1965-66. The PKI ( Indonesian Communist party ) had the largest membership of any Communist group outside of the USSR - two million. Suharto genocided it and banned it which remains in effect to this date. Indonesia is part of the "Friends of NATO" so Bangladesh should expressly develop more ties with Russia, DPRK, Syria, Venezuela, Cuba, Brazil, Algeria, Egypt, PLO etc.