The problem with middle managers right now is that they are not marketable. Almost no industry need them, and they have forgotten the skill sets (entry level) that did have and lot of times those skills are not needed anymore. So unless you are technical or executive level, your job either is or will be redundent.
I am not going to advice anyone to get on the management ladder today. I think middle management is mostly over from where I stand.
RE: Restructuring of Indian IT Dream!