not an accurate assesment with respect to foreign investment. I did not mean India as a major player in high tech manufacturing, but just to name few areas where it is already a major player:
IT Outsorcing-major US banks/finance outsourced their IT to India. That process started about ten years ago (Citicorp), and today it is very hard to find a major bank which did not.
Customer Care - Numerous service and product companies are outsourcing CC & Telemarketing to India. Just check with your next telemarketer what country is he/she calling from.