I'm sure thoughts are influenced by the fact that the company I work for has a sizable presence there, but the very broad view I've developed is 'outsourcing superpower'. It rarely seems that India is the owner or originator of things, but they end up doing a massive amount in supporting companies from the USA during what is our night hours. They also seem to have an exceptional dedication to their work despite from what I've seen the managers being kinda over-the-top with the demands on them.
I used to work with a young woman who left one of the wealthy families there to get out of an arranged marriage who had all kinds of interesting tales on how things worked there. Talked a bit about their 'gold room's where they stored all their savings and if they needed extra cash would just shave off a piece from a brick.