I guess we will find out soon enough!
I'll add that while there is no question as to the industriousness of Asians, their cultures are somewhat resistant to embracing notions such as human rights, diversity, and tend to be ethnocentric. This can adversely impact self-governance. And while Asian nations like Japan seem to have taken to democracy quite well, much of that I believe is due to America's strong influence on Japan.
The question is whether a religiously diverse country like India can become a "big Singapore" or "big Hong Kong" or will it become a "Yugoslavia".