Well there are many many thoughts, but here are a couple. In this day and age where the world is getting smaller... meaning its a true world market now. And there are countries in this world who are extremely poor as a population. But when these same countries have a high percentage of highly educated people, who learn and are taught english(not saying how well
). It's was just a matter of time. In this world, and this economic market, price/cost is king. India will definately be a huge power in the years to come. But they are still NOTHING compared to what/how China is doing/growing. They will be the power of the world soon. Countries like ours, are resilient, the industries we dominate may change, but this is not the first time in our history that our ecconomy was challanged.
On a different note, considering I'm Indian, and have been there many times in my life. It is truely amazing to see the changes over the years. It is by all means a third world country. The poverty I see there, you can not imagine. The poverty is still there, but now there are little spots of progress and wealth popping up. I'm interested to see what happens in coming years.