Oh no!!! I hope that does not happen! When I was on my world tour, India was my favorite country for cycling!
I hope what will happen is India will end up with a mixed transportation system: cars and motorbikes to get around, Buses in the cities, privatized railways for longer journeys, and shanks mare for short distances. And last but not least, bicycles for recreation as well as reasonable commuting. I did a massive tour of India when i was goinga round the world and loved it.
roughstuff