You might not have seen this thread opened by Ryyu on 16th of this month which was speaking about the private industry in the space industry.
In US, there are many rich people who can contribute in the private space companies willingly but in India the commercialization of space activities will not be an easy thing. Considering all these points I don't see much hope for Indian space research programs, once privatised, to come up to the level of programs being executed in US. However being an Indian citizen I will be the most happy person if ISRO achieves that type of excellence in the global competition in space activities.
Knowledge is power.