I too read this book quite some time ago (probably launch) but I did not like it. I don't know why but I just seem tired of people portraying India much worse than it really it. I know its fiction, and its probably my non-willingness to suspend belief but I felt some parts to be pretty dark and ruthless.
P.S. I must respectfully disagree with your statement "some insight into modern India", but now see that you have included the word "possibly"
Also, if you like this book then probably you might like one by Chetan Bhagat called (looks on the interwebs) aah..yes.. titled "The Three Mistakes of My Life"