However, Dr William T Wilson warns that India's smart rise towards the position of an economic powerhouse could be marred by the following events:

Armed conflicts: With Pakistan or other neighbours.

Energy sources

1. India lacks adequate domestic energy sources and finding foreign energy sources to satisfy demand will not be easy.

2. India's oil import share will rise from 60% to 80% by the year 2030.

3. Government spending and fiscal deficits

4. Government continues to find it impossible to control its own spending.

5. Combined deficits of central and state governments are at 10% of GDP.

AIDS

India currently has the second highest number of AIDS cases after South Africa.

Delhi police officers marching during India's Republic Day parade in New Delhi.

Photograph: Raveendran/AFP/Getty Images

Also see: Destination China!