I realized I didn’t answer your question…
The answer is - setting yourself up to have it all - China, DEI, and eventually India.
The first key is to kick the snot out of China for a few rounds, uncontested. I like to park all my aircraft in Kwangsi, and use straight aircraft to kill the Chinese in Szechwan on J2 - no matter the size of the stack. That means the Burma Road is only collected on once. That matters quite a bit, and losing a couple fighters with Japan is completely worth it.
Build one IC - that’s all for now. I see people make the mistake (in my opinion) of building three, or more. Why? Transports are so much more versatile, and do the same thing - they just need to be properly protected. You start with all the air power in the world you’ll ever need to maintain a large fleet.
Build a couple transports each round. Get to at least six, or seven. Then don’t be afraid to keep buying them as needed throughout the game.
Then, turn and prepare for island taking, with the transports you’ve been building. It’s a creative process from there - it would be boring to try to go blow by blow, because every game is different. A lot depends on what the Allies have been up to with their staging.
The goal is to keep contesting the DEI, finishing off China, and engaging in a war of attrition with India. In the meantime, timely purchasing of carriers and destroyers is everything. A second IC makes great sense in F Indo, or Malaya once your infrastructure is set up. Then if you’ve been patient, you can settle into a long, slow dismantling of India.
It also works to take out India very, very quickly - just not my style.