1) India is a very large and very diverse country. How is the culture of acceptance towards carpooling and resource sharing, especially when it will gain an ascendant middle class like we're seeing in China?
2) Vehicles have always had a status communication role. Is there something we can tap into that can impede this desire?
I really doubt it. People are always looking around for honest signals about each other, and a vehicle is the most expensive possession other people will see in a casual social setting by at least an order of magnitude. Whether you're at school, work, a bar, hiking, etc, people will see you get into your car.
2. This has, sort of, lost its charm with the younger generation especially if they are earning well or used to own a car. Public transit has become faster (on the order of twice as fast during peak time) compared to driving. 2 wheelers are more popular than 4 wheels for cost and practical reasons.
So if car pollution, parking, congestion is priced appropriately then some people will still have bigger, less efficient vehicles to show off but the baseline will be lower and therefore society as a whole is better off.
2) The status still exists. However it can be practical to not own a car as roads are extremely congested in big cities (in some places temporarily worsened by public transportation infrastructure projects)