India is a very divided country. So, if you are catering to top 10% of the population you are already in the ball-park of 100 million people, that pretty much beats out every Western country except USA. The number in middle class is about 400million, that is the number to focus at least for immediate future. The rest of 800 million, well, God Bless them!

true - but the curve is not what you'd expect. Apartments in Bangalore cost half of what they do in San Jose.

That's nominal; it's much higher by PPP. (Still much lower than the global West and North, of course.)