Certainly. It has been effective in having Pangong Tso sector be disengaged - so that Indian government has something to show to its people.The rounds have been effective though, considering disengagement has been at least partially done at most sectors. India has made it clear it is in no hurry, there have been much longer standoffs
As for China - nothing short of calibration for long term strategies ( give less priority to southern areas of pangong and more for the Depsang region that lies close to the Karakoram - DBO).