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Add Japan's Maritime Self Defense Force somewhere... maybe in 5th place. One of the most advanced navies in the world.
Japan and South Korea's navies could whip the living daylights out of the Thai one several times over.
India probably won't fit on the list yet. Other than their projected Kiev class aircraft carrier, the rest of their navy doesn't seem to be much to shout about. They have some "stealth" frigates of Russian design but I am not sure as to how effective they are.
They don't seem to have any AEGIS systems to speak of (correct me if I'm wrong... I just can't find any info on it).
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