Due to many of the recent downfalls in India's economic climate. The process of recovery will be time consuming but not impossible. If the government realize the country's potential I'm sure over a period of years it can be brought out of the read & restore India to a reasonable state better than other comparable "LEDC's".
India has been dealing with a somewhat bad economy for years now but with what I've seen in their stock market, it seems that they are taking a leap forward for once and it looks like their economy could actually be revived! I am hoping with the time, that they will continue to grow, which by looking at it, they will!
Yes, I believe India's economy will be revived. Every country goes through hardships, and recovers it is just a matter of when. As long as the economy is low, large business will look to India to get cheap labor and this will assist India in the recovery of their economy.
I think India's economy will be revived because the country provides many skilled workers who compete for work. With the ready supply of skilled labour, companies are likely to locate to the country. These companies relocating will also supply additional jobs in house building and infrastructure supply. Providing the incentives are right, companies will come.