Yes the Indian Economy will recover. Sooner or later the change has to come. The change is waiting for the right time to show its effect.
Today the Indian Economy is facing a sort of crises. The unique crises has to be countered with a unique solution.
A lot of structural changes has to come about.
As anyone who has lived in the last few years can attest, the economies of the world since 2008 have been less than stellar. Europe, the United States and pretty much the world have suffered. India is no different. As such, they will also bounce back just as other economies have begun to recover.
India is considered a poor country. Look at Calcutta! There is not enough food for the massive amounts of people. There are too many building and concrete streets to even try to produce crops. India should become educated on the increasing amounts of people, without the jobs to support them. Until they decrease their population and produce more jobs, they will suffer.
The world already has one huge nation struggling with overpopulation and an unstable economy and that is China. I think the world is too small for two nations of this size to exist and both be economically viable. The option of a world war and proving your strength in number is out, because wars are becoming more and more technology based and causes the number of soldiers your army has to be less effective. Until India is able to feed it's nation, it won't be able to move forward.