Thats a fair point.But look at the past. In the 1990s, it was Japan that fought a trade war with the USA. Now that Japan is a dying giant with an aging population, no one talks about the trade war that has shifted to China. Now China has the same problem Japan had. an aging population. So, I think India has a chance. Indians have resources, western loyalty, even Russia is a friend.
There are other things India will have hard time to solve. Their Kashmir problem. Khaliatan Problem, Racism and Speratism. Still we see some sparks. But will ignite soon. specially khaliatan. China has no those issues. And their GDP growt rate in this peak time is 6%. They will need min 20 years to double their GDP per capita and to get a proper use of their young population. double meas still 5000USD. Even SL had 4100USD in 2018.
Other thing is their income inequality. Its the worst. It will cause more issues in society and I forsee some civil wars and more seperatism here. If they manage to get over these issues, they will definitely have a chance. But they should focus on management not doing the technical works. Tech work will fail as Altman says. if they try to do it, will cost more money also.