I think that any slogan about modern India has to be connected to what is happening in India today and what is causing challenges to it. In this light, I think that a slogan could relate to the current worldwide Occupy Movement. For example, "Occupy Mumbai" or "We are the 99%" would be applicable to much of what is happening in India, for while globalization has hit India, the vast majority of Indians who live on farms and in rural areas have not experienced it. To a great extent, the disenfranchisement that is seen worldwide when the 1% benefits off of the toil of the 99% is applicable in India through the rural and urban distinction. As India's growth slows down and economic challenges of capitalism hit India, this is bound to be more relevant. In this, I would submit than an Occupy slogan be adopted.
As the current crisis about India's bond rating potentially being dropped hit the news cycles this past week, one element that came from this was that government corruption is beginning to have a massively brutal impact on economic growth and prosperity in India. It has gotten to a point where Indian political corruption is not just morally abhorrent, but bad economic policy. In this, I would suggest that a slogan from Anna Hazare, a leading voice in ending governmental corruption through civil disobedience and fasting for change might be applicable here. One that is out there: "Twinkle, Twinkle little star, Anna Hazare is our super star." This reflects modern India because it appeals to the "super star" element seen in Indian Cinema, and it also brings to light how idealism, evidenced in the "Twinkle, Twinkle" refrain is going to be the only way through the cynical and political world of governmental corruption. Another slogan might be a throwback to the American history dynamic of the 1960s. "The Whole World is Watching" to see if India can overcome her own political corruption to become a viable economic power, capable of restoring her recently newfound success in the globalized world.
Finally, I think that one aspect of modern India that has to be addressed would be the lack of income tax being collected. In order for India to be more successful, I would suggest that taxes have to be paid by more people, and eventually, by all people. Plato had this to say about the issue of taxes:
When there is an income tax, the just man will pay more and the unjust less on the same amount of income.
Perhaps a slogan here could function as, "Be More Just: Pay Your Taxes." In these I think that slogans about modern India can be developed.