"Defense ministers of the United States and India have signed a 10-year agreement paving the way for joint weapons production, cooperation on missile defense and possible lifting of US export controls for sensitive military technologies."
"The military pact came three months after the United States unveiled plans to help India become a "major world power in the 21st century"...
"Washington's move to boost relations between the world's oldest and largest democracies which were on the opposite sides in the Cold War is seen by analysts as part of a strategy to counter the growing influence of China , India's immediate neighbour."
Things are getting very interesting in the far east.
And, it's about time that India got the recognition it deserves.
India's economy is also booming, due to its ever-increasing service industry. Think of how many companies outsource their support and even their main services (website design, maintenance, content, administration, etc.) to India.
Regarding the U.S. losing its foothold in the service industry, it all boils down to for how much pay people are willing to work. Since we, in America, have such a high standard of living and subsequent ingrained "expectations" of what we should and should not get and do, we will continue to lose traction to China and India, whose populations are much bigger and are willing to work for much less money.