IMHO
1) Can the infrastructure keep up with the demand (Slots, Bilaterals, airspace management, Air traffic control)
Doesnīt look good. Just look at Mumbai, where arrivals, departures and trans-Asian flyovers are all handled by the same controller! (In fairness, they do an amazing job, given the circumstances!) Or the "new" terminal that has stood vacant for what now? 10 years???
2) Can the red tape and bureaucracy be reduced.
This is India you are talking about! Be serious! The government just imposed a 25% tax on non-airline aircraft...with no warning! Several aircraft have already been paid for and on the way to India. The new owners are in between a rock and a hard place, as they have received National Bank permission to use hard currecy for these aircraft. They have an obligation to import them. BUT if they bring them in...25% more! Even for the smallest CJ, used, that means 1 million dollars. A Falcon 900 perhaps 7 million!
On my last trip, I had delivered and was leaving again on a temporary landing permit. The immigration man was hassling me because his colleague at arrival "hadnīt made the TLP correctly." It took 30 minutes and 8 men to handle this crisis. Bureauocracy is either an ancient Sanskrit word or the landmine that the Brits left behind to screw things up!
3) Can corruption be curtailed.
See response to number 2! Customs is a road to riches. Canīt make a move without delays on all levels, until a donation is made somewhere. I refuse to do this and have waited 3 days for a departure. It is my little war to help end corruption by not taking part in the payoffs. But it does tax the patience!
4) The effect of the cast system on the middle class sector.
The caste system is illegal, right?
5) The effect of political favouritism on certain companies.
You mean that my friendly government minister, the one with the brown envelope, is no longer able to assist me, his old chum from school?
6) The availability of aircraft ( China is in a massive expansion mode )
..not to mention the availability of pilots! Ah well.......at least the skies will be safe. What about fuel? Can the world oil supply handle the rate of grwoth in both China and India at the same time as the West increases activity? Not to mention the Middle Eastern airlines that also are in growth mode!
Interesting times!