man, there should be some threads that talk about india without saying anything about pakistan or china. there should be some kind of rule.
all i know is that when you go to america's best universities and look at the graduate students in the engineering departments, they are either indians or chinese.
and of course indian democracy is infamous for slowing down all the business initiatives in that country.
however i would like to point out that democracy takes a long time to be established. in US, it took a long time to give the vote and equal tratment to blacks and women. France became a dictatorship under napoleon. other korea and taiwan, also long time to develope.
but, india has a "headstart" on this.
so i think india will probably continue to go in the right direction.
just for reference sake, north korea was richer than south korea until late 60s and early 70s. slow and steady can win the race.