South Asian regionalism, envisaged as a framework for cooperative development and collective security, has facedpersistent challenges since the inception of the South Asian Association for Regional Cooperation (SAARC) in 1985. The dominantnarrative of Indian–Pakistani rivalry, structural asymmetries among member states, and the inability of SAARC to evolve into aneffective multilateral institution have stymied regional integration and cooperation. In response, India has progressively reoriented itsregional engagement toward alternative frameworks such as the Bay of Bengal Initiative for Multi-Sectoral Technical and EconomicCooperation (BIMSTEC), aligning with its broader foreign policy goals including the ―Act East‖ and ―Neighbourhood First‖initiatives. This paper examines India’s historical role and evolving strategies in South Asian regionalism, critically analysing thelimitations of SAARC, the emergent collaborative prospects through sub-regional mechanisms, and India’s potential to reshaperegional cooperation beyond the shadows of rivalry. By exploring political, economic, and security dimensions of regionalism, ithighlights how India can transition from a posture defined by bilateral tensions to one that fosters inclusive cooperation, connectivity,and shared prosperity across South Asia. The study suggests that genuine regional collaboration will depend on structural reform ofexisting institutions, multifaceted cooperation in trade and infrastructure, and India’s diplomatic willingness to reconcile strategicinterests with collective regional goals.