"...uncoordinated, asymmetric growth..."
av8r76, what a great phrase! Mind you, it applies equally across the entire industry, not only in India. We never quite manage to get the forecasting right. The same flying instructors who are currently so much in demand will soon be scratching a meagre existence again, until the next shortage comes around. Many of the ab initio trainees eagerly pursuing their new craft in foreign schools will learn that over-optimistic projections have resulted in a glut of low-time, highly-indebted inexperienced pilots, some of whom will never pursue a career in aviation.
But, that's aviation. It will never change, and the ones who time it just right will enjoy a career that is arguably more rewarding than any other.
At least, in my opinion.