The article analyses the dynamics of development of nuclear rivalry between India and Pakistan. The authors identify two central factors in competition between India-Pakistan in the sphere of nuclear weapons. First, India-China border war in 1962 and PRC’s accession to the “nuclear club” in 1964 which left India with no alternative to the “nuclear option”. Secondly, India – Pakistan armed conflicts of 1965 and 1971, which prompted the Pakistani ruling circles to develop own nuclear weapons. The article examines and evaluates main stages in the development of nuclear programmes of India and Pakistan and analyses their impact on the geopolitical situation in the region. The authors draw attention to invisible presence of the “Chinese factor” in their bilateral relations and influence of “all-weather friendship” of Pakistan and PRC on the political processes in South Asian region. Attention is drawn at the need for the creation of system of collective security in the Asian Continent.