Why is Inda so far behind in the Olympics?

I'm not trying to be mean here, but I couldn't help but notice that while most countries with a high population seem to be doing well in London, India, which has almost as many people as China, has only won 2 bronze medals. I know that there is a lot more than just population to consider, but it seems to be such a drastic difference. They have 1.2 billion people, almost 20% of the worlds population. You would think that by sheer odds, they would have produced more exceptional athletes.
Why is Inda so far behind in the Olympics?
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