It is hard to clearly determine such a thing. India is sure on a path of development a lot of money is being invested in its markets, and as the investments will rise the demand for products will rise and it will raise the consumption power and GDP. I think the society might stop the development since it is built in castes.
There is a lot of internal conflict in India which will hold it up on achieving its full potential. Not just the caste system, which is slowly fading, but difference between different cultures, different religions, different political parties and philosophies. It's trying, but it's a country very divided.
India faces the following problems: a growing population, poverty, and Pakistan. In order to become a leader in the world it must deal with all three.
Other people asked questions on similar topics, check out the answers they received:
Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them