As it takes at least one generation to build a solid infrastructure network (Roads and railways), it is clear that the development of India, like some other countries in the region (Vietnam, Burma, Indonesia....), depends on aviation. Even if there are some market corrections due to a too fast mushrooming, aviation has a bright future in India for the next 20 years. (See studies of Airbus and Boeing)
However, concerning the workforce, flock of Indian students are invading Flying schools with only one criteria in mind: costs. The results is that, too often, the quality of training is quite poor, and a basic ICAO/FAA CPL-IR is not sufficient in itself to be first officer on an Airliner. Those students when back in India are useless and Airlines need to recruit qualified expatriates.
Social tensions are high because those students complain against expat recruitment, not understanding that they are not suitable for the job.
Corrections have to be done, more selection and a training of quality as priority, financial institutions must continue to support aviation industry in India because the future is bright, but they must be more careful in their choices: quality and professionalism should be the main criteria over an apparent low cost..