Kudos Mr. Abhinav Bindra. You showed the world what can be done when a capable individual sets off determinedly to achieve something. But why cant our country of a billion people excel in sports overall? Here's my analysis -
1) Ours is a poor developing nation, so expecting the government to spend loads of money in sports will be thought of as extravagancy (not that corruption or heavy military expenses are justified) - we dont put much funds even in science, technology, r & d, etc - a trend which is slowly changing though - sports would be the last thing they can allocate national funds to. Imagine what would happen if we had our film industry run by public sector.
2) In our country, from early childhood we are fed science and maths textbooks. We have a saying - "padhoge likhoge banoge nawab, kheloge koodoge banoge kharab". This mentality needs to be changed - actually rooted out. Lets hope our generation achieves it.
3) Like they did to cricket this year, privatization can be done in all kind of sports. India can definitely produce champions in all games. Maybe reality TV shows can help here..anyways music/dance/acting talent hunt shows have reached saturation. Maybe we need a Gajendra Singh for sports as well.
4) India can do it. High time it starts...n then i hear they are including chess from 2016 Olympics..we'll be definitely much better off then :-)