I know, there simply are too many books about India these days, and you are sick and tired of reading any more of them. Don't worry, I will only recommend books written by legi folks.
Three titles on India you want to have are:
1) Billions of Entrepreneurs:How China and India Are Reshaping Their Futures--and Yours by Harvard Business School professor T. Khanna. Here is a review of the book in Businessweek.
2) India: An Emerging Giant by Columbia U professor Arvind Panagariya. Here is what Free Trade guru Jagdish Bhagwati said about the book:
'Arvind Panagariya has produced a truly monumental, wide-ranging and penetrating work on the Indian economy. A tour de horizon and a tour de force--it will establish him as the most insightful economist writing on India today."
Here is a short commentary by the author on why India lags behind China in development.
3) In Spite of Gods: The Strange Rise of Modern India by former US Secretary of Treaury Larry Summers' speech writer and journalist Edward Luce.