I think it's more accurate to say that the US developed because of their disregard for intellectual property. But that was a long time ago, when the US was a developing nation.

There are fundamental differences between that and our discussions on copyright. Both India today and the US of the past depended upon intellectual property from foreign nations. In most cases, that intellectual property was created because of copyrights and patents in the more developed nations. The second big difference is that pirating the latest entertainment does little to promote social or economic development. Pirating medicines and books that form the foundations for education does promote social and economic development.

For what it's worth, I do support compulsory licensing in these cases. A functional health care system, education system, etc. is necessary to promote development in developing nations. We, the rich (relatively speaking) should be willing to bear some of the burden because the cost will be too high if we don't.