Back in the city after a visiting my parents in D.C. On the train ride back I read a recent Financial Times survey on India. Takeaway points:

• Indian tourism is likely to boom over the next few years to some 10m passengers a year by 2010.
• Displaying wealth is still highly frowned upon so luxury goods makers are having a tougher time in India than rival China.
• By 2025, India will sent 800,000 students a year overseas out of some 11m current university students. Foreign degree still has cache even vis-a-vis Indian Institutes.

My general impression, India is getting hot but not explosive like China. It seems like expat Indians and Indians trained abroad are driving growth with Western companies only target very specific sectors of the economy (i.e. IT and some clinical drug testing). However, a small article in the survey on Indiagames, a cellphone game maker that has tied up with a Chinese cellphone content provider, Tom Online, illustrated that some Indian companies are moving beyond the “India Story” (i.e. low-cost outsourcing) and concentrating on being a world class players.