That sounds like the "China can only produce cheap knockoffs, they can't produce anything new" from the early 2000s, or the "Japan is never going to catch up with American chipmakers" of the 1960s-1970s.

Indian people aren't stupid. There's literally a billion of them, and we've spend the last twenty years outsourcing an awful lot of work to them. If you don't see them as a potential future threat, you have already lost.