Both India and China are developing enough funding to be major players, but they lack the manufacturing infrastructure (improving fast) and the brand credibility and distribution networks. Buying Volvo, Jag, Land Rover, KTM..etc. gets them instantly known brands and an existing network of dealers around the world.
I dont thing that Jags will be assembled in Coventry forever....or if they are it will be bolting together modules from offshore. Design and Engineering is another thing though. What we see is outfits like BMW and VW do the engineering at HQ in Germany and then assembly around the world. Motorcycles are built much the same way.
The trend is far from over, and someday India and China will be drivers of the purchase side of the equation too as their consumers become more prosperous.
The difference that I see is that India is very busy building that portfolio of companies and brands but the Chinese seem to be happy at making cheaper copies with no brand or distribution. There is a big difference there.