So, the answer is both yes and no.

Why yes?

Because it'll help in the following things:

1) Growth of technology and awareness in India.

2) Increase the online bussiness.

3) Make India one more step closer to compete from the USA.

4) Attract more and more people to get online and become smarter (Well, if you get what I mean).

5) And above all, downloading and uploading data at much faster rates (I'm feeling so high right now).

Why no?

Piracy. Now, this one word is much bigger than the five points I've stated above, due to it millions of dollars are pirated online everyday digitally in the form of games, movies, songs etc. (This reminds me of The Pirate Bay).

Well, how can ISPs improve their connection speed and lower the prices?

The clear answer is Optical Fibre lines, in India this work is going on, the govt. has taken the responsibility to lay down optical fibre lines but the work is very slow, I guess that it'll not get finished before 2018....

Where can I get the fastest internet connection in India if I wanted to?

Kerela: It has an insanely fast 1 GBPS internet connection which I think is provided by the govt. or IDK 'cause it's not stated anywhere.

Hyderabad: This city has Act Fibernet which provides 100 MBPS speed which is pretty good.

Any future of this?

Yes, there is if Google Fiber comes to India, it provides 1 GBPS internet connection for which we have to pay monthly and a one - time payment internet connection which gives us the average speeds of today's internet (Like USA or other high speed country).

Conclusion?

India seriously needs to higher the speeds and lower the rate of internet connections if it wants to compete with the world.