This co-authored chapter delves into the changing power trajectories in Greater Central Asia. They juxtapose the economic aspirations of Russia, China and India with the geopolitical realities facing them – problematic trade relations and conflictual political narratives. Greater Central Asia (sometimes referred to as the “Arc of Instability”) is central to China’s Belt and Road Initiative (BRI), despite it being one of the world’s most insecure regions. The Chinese government has increasingly realized the need to stabilize this region, both politically and socially, and that the solution is not only to increase financial resources but also to stay connected multilaterally and politically. For India, too, its strategy to combat cross-border terrorism and insecurity on its Western borders is dependent on the future economic, social and political stability of the region. However, geopolitics, insecurity and distrust have prevented concrete cooperation between China and India. With India’s inclusion in the Shanghai Cooperation Organization (SCO), it would be easy to assume that some of the tension could be eased, but it looks like the stress will continue to some extent. In this equation, Russia becomes a crucial player and will, to a certain degree, determine India’s and China’s policy success in Greater Central Asia.