I do not see how this type of project is sanctioned by the Indian government. Half the population is living in slums Most parts of the country have only intermittant electricty There is almost no safe water (by Western European standards) The majority of the population is functionally illiterate. The roads are amongst the most dangerous in the world Pollution (air, water, and waste) is a HUGE problem I suggest that this money could be better spent addressing those problems
I could be wrong, but I feel that progress needs to happen on all fronts. Research, industry, infrastructure, quality of life, etc. are all things that need to be invested in at the same time. The problems you speak of don't have silver-bullet cures - you have to work on them for generations. What will you do till then? Suspend all research spending? At any rate, I'm amazed at the conviction you demonstrate when discussing such issues. You're either a genius (who really has solutions) or someone who hasn't thought this through well enough.