India, June 21 -- India's growing importance has created a new challenge. More countries want India on their side than at any point in its modern history. The US seeks a stronger strategic partnership in the Indo-Pacific. Europe views India as a vital economic and technological partner. The Gulf States see India as a crucial market, source of talent and diplomatic actor. Russia values a relationship that has endured through dramatic shifts in the global order. The question confronting Indian policymakers today is whether a rising power strengthens itself by joining a camp or by preserving the freedom to engage with all of them.

The recent American warning regarding Iranian oil shipments has brought this question into sharper focus. At on...