I wouldn't be too surprised with an Indian naval/air base there in the near future. Indian air presence will prove to be very lethal against China. India is much more experienced in warfare.
The news is troublesome. The big arms race is brewing in the South China Sea.
What's not to understand here? Did I imply there was any Indian base now or if there was surely going to be one in the future? Please reread the statement.
First of all, India isn't even a player in the South China Sea, but IF AND ONLY IF they had an air presence, it would prove to be a big thorn to China's South China Sea policy. And yes, I know that Chinese presence is great enough in countries like Myanmar and Pakistan so it would be logical to assume India is countering this move by developing closer ties with Vietnam.
First of all, the major players are US-ROC and the PRC. China's military presence in South China Sea is arguably the strongest. ROC has the largest military base in the Spratly's, and the United States has a form of power projection via Guam. In Vietnam, there's a very strong and popular anti-China movement going on, but there is a significant number of pro-China policy-makers. Vietnam is already listed as having a Most Favored Nation Status by India and the increasing military ties with India will embolden Vietnam much more. In the Philippines, the government is trying to invoke the MDT with the United States, as a counter-move to China encroaching the Philippine EEZ, but the US is still backing off for now, but they are helping to modernize the Armed Forces of the Philippines. Of course, there's still a lot of anti-US presence and even Maoists (that China ignores).
You should also be aware of Japan and the US bringing India into a loose trilateral.
Wary of China moves, India, US & Japan plan talks - Hindustan Times
Also a separate Visiting Forces Agreement between Philippines and Australia (which is inactive for now). Note that the Philippines has their own VFA and Mutual Defense Treaty with the US.
http://www.aph.gov.au/house/committee/jsct/7august2007/treaties/philippines_text.pdf
Aside from the ANZUS pact and the Japan-USA bilateral, a major defence pact had formed between Japan and Australia not so long ago.
Japan and Australia sign defense pact / The Christian Science Monitor - CSMonitor.com
The US military policy in Asia right now seems to be aiming at encircling China. China is fighting back by showing some muscle, but it isn't in their policy to start a war. And the South China Sea was caught in the cross-hairs of an already existing arms race between China and the USA.