I think India is still in the process of training their population to be innovators, and may be hindered for a time by the legacy of the caste system (please correct me if I'm wrong on this point). Demographically, though, you're right. India and Africa both could become hubs of innovation if they are able to industrialize and educate.
Discussion
Caste system is a thing of past .. as much as color discrimination is thing if past here in US .. politicians still keep on it cuz that's the way to divide ..
India has biggest pool of tech workers .. a single campus in Bangalore hosts upto 30,000 employees ... And there are countless such centers ..
Comparing Africa to India ummmm :-) .... India is fifth largest economy.. just surpassed Great Britain last year ..