By MARGHERITA STANCATI

NEW DELHI — India successfully tested its most advanced long-range nuclear-capable missile to date on Thursday, a launch which New Delhi hopes will serve as a deterrent against China, its regional rival.

Experts say Agni-V is the most advanced missile in India’s inventory and places the country on a footing with Beijing, which already has missiles capable of striking deep into Indian territory.

Its range of over 5,000 kilometers (3,100 miles) means it could travel as far as Beijing and Shanghai. Earlier missiles had a range of up to 3,500 kilometers, falling short of many of China’s major cities.

“India has finally reached deterrence parity with China,” said Bharat Karnad, a security expert at the Center for Policy Research, a New Delhi-based think tank.

India and China fought a border war in 1962, which Beijing won. New Delhi and Beijing continue to contest large parts of their shared 4,000-km Himalayan frontier, despite warming trade relations between the nations.

China’s state-run media poured cold water on the launch. The state-run Global Times warned India not to be “arrogant during disputes with China” after the Agni-V launch. “India should be clear that China’s nuclear power is stronger and more reliable. For the foreseeable future, India would stand no chance in an overall arms race with China.”

But Chinese officials were more circumspect. At a daily briefing, China’s Foreign Ministry spokesman Liu Weimin said Beijing had taken note of the test but added that, “India and China are not rivals but cooperative partners. We believe the two countries should cherish the hard-won momentum of sound bilateral relations, promote bilateral friendship and cooperation and make active contributions to regional peace and security.”

India’s government views its nuclear capabilities as crucial because Beijing can afford to spend much more on conventional defense than New Delhi.

The launch Thursday of the inter-continental ballistic missile from Wheeler Island, off the coast of the eastern state of Orissa, was lauded by Indian politicians and the general public.

“It was a perfect launch which took place at 0807 hours (local time). It has achieved all the parameters and goals set for it,” said Sitanshu Kar, a spokesman for India’s Ministry of Defense. In a statement, the government unit that developed the missile said it reached its intended target in the Indian Ocean and was visually tracked along its path.

A successful test fire, although a positive sign, does not mean the ballistic missile is operationally ready. That could still take a few more years of tests.

Many Indians view the country’s nuclear program as key to asserting its influence on world affairs. In 1998, India’s nuclear tests were codenamed “Operation Shakti,” the Sanskrit word for strength. A former ballistic missile scientist became the nation’s figurehead president between 2002 and 2007.

NDTV, a local cable news channel, called the test Thursday a “high-five moment for Agni and India” in screen graphics accompanying its coverage.

Indian Prime Minister Manmohan Singh hailed the launch, which he termed “another milestone in our quest to add to the credibility of our security and preparedness and to continuously explore the frontiers of science.”

He added: “The entire nation stands together in honoring the achievements of our scientific community who have done the country proud.”

The launch of the locally-built Agni-V is part of India’s broader missile development program, a key aspect of its nuclear strategy.

While India maintains a no-first-use policy when it comes to nuclear weapons, Mr. Karnad, the security expert, said Agni-V will give India greater leverage over China. “The diplomatic and political fallout will hopefully be that India will be more confident in dealing with China.”

Mr. Karnad played down suggestions that Agni-V improves New Delhi’s deterrence system against Pakistan, its other regional rival, since India’s shorter-range ballistic missiles can already cover all targets inside the country. “It’s really China that India has been worrying about and it is now on better grounds to deal with it,” he said.

The launch of Agni-V also offers a rare glimpse into India’s broader nuclear strategy, much of which focuses on improving its delivery vehicles.

“Because there is so little public discussion on the nuclear weapons themselves, the frequent testing of a diverse array of ballistic missiles, of increasingly longer range, is the most visible reminder of India’s growing nuclear capability,” M.V. Ramana, a nuclear energy and security expert associated with Princeton University, wrote in a recent report.

India is aiming to complete a “nuclear triad,” a system that would allow nuclear weapons to be delivered from air, land and sea.

The missiles in the Agni series, which take their name from the Hindi word for fire, are the cornerstone of India’s mobile land-based nuclear delivery system.

India’s “Arihant” nuclear-powered submarine was launched in 2009 but still has not formally entered into active service. It’s unclear whether India’s range of fighter jets, which include Jaguar IS/IB, Mirage 200-H and Sukhoi-30 MKI models, are capable of carrying nuclear payloads.

—Diksha Sahni in New Delhi and Dinny McMahon in Beijing contributed to this article.