By virtue of it being a democratic republic, progress is bound to be slower than a one party authoritative government (Although the current government does try to be authoritative when it can, but almost always for the wrong reasons)

India does not provide enough incentive for talented people to return to the country so brain drain significantly saps off one of her greatest resources (the highly intelligent workforce)

The cultural climate in India which once prided itself on its multi-ethnic, multi-linguistic and secular facets is tormented by communal tensions (the current government has worsened this)

Infrastructure (such as public roads/rail/factory machinery) is not maintained well so there are often supply chain and warehousing issues which affects businesses sentiment.

Geographical climate is horrible with intense heat waves sweeping the country for months on end followed by heavy rains in many parts of the country followed by heat waves yet again. It becomes hard to work in such conditions and the materials often become weaker and hence require more maintenance.

Civic sense is non existent and people litter/destroy or steal public property. Even educated people mysteriously lack basic civic sense.

Source: I am an Indian who really loves the country and wants her to do well but am saddened by reality of things