Though some of the richest people in the world are Indians, India also has one of the largest number of the poorest persons in the world, who earn so little that they cannot afford to have a meal a day. The real reason is not lack of resources, it is corruption, nepotism, which results in incompetent undeserving unqualified dishonest individuals in positions of great powers. These individuals are only interested in exploiting the lucrative positions they hold to maximize their wealth and power, greedily exploiting all the resources they have access to, for their personal gain.
Many will cleverly exploit the loopholes for the benefit of their family, a young conwoman diploma holder with no experience, manages to get a lucrative position in indian intelligence agencies, because she and her relative manage to dupe an official into giving fake references of experience of twenty years. The system in the Indian government is so flawed today that this conwoman, with no experience, cannot be easily removed from the post, as there are no foolproof systems in place, which would ensure that greedy powerful families, are not able to exploit it for their benefit. So the government wastes money paying an inexperienced conwoman instead of the person with real experience, causing further losses.