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I kinda feel the opposite. Seen as some backwater third world country 30 years ago, to the most populous country in the world, a democracy aligned to its own goals forming a third pole in the global order apart from the US and Russia/China.
Even their reputation as scammers comes from the insane growth of English-language tech work that is now focused in India.
So we switched from exotic fetichizing orientalism toward casual racism? Sounds like two pieces of the same coin.
That’s what colonialism does to one