This seems to be true, which begs the obvious thought. India has so much untapped potential when it comes to its size and population... like China, with its billions of people too. It makes you wonder what cultural constructs are in place, that make India such a large, yet third world country. I know nothing about India, but I think their country is a religious one based on Buddism/Hinduism. In those religions, it is about turn the other cheek and karma and all that. At the same time, they must have an overwheling "ruling class" (i.e. small upper class and large lower class; no middle class).
With such a harmonious, homogenous, and intelligent society, one would think that India really could pull itself together like other Asian countries (Japan in the 50's, South Korea and China these days) and emerge. Seems like they are poised for that kind of positive growth if they could somehow get their shit together.