All the problems you mentioned Anil exist in Pakistan as well, pitches, climate, selectors etc but in the last 20 years Pakistan has produced many genuine fast bowlers.
The only reason that is valid is lack of heroes and role models, an that in my opinion is the reason why India doesnt produce fast bowlers. Kapil was good steady and has many achievements for his team, but he did not rule the hearts of the youth like Imran used to do, and that is the sole reason why Pakistan produced so many fast bowlers after him. At the time when I was growing up in Pak. every kid wanted to become Imran, copy his action, bowl bouncers etc. Everyone wangted to emulate him, not only in cricket, a bit like maybe Amitabh Bachan. Thats what India needs somehow, to produce that one perfect role model.
And I dont buy the 'physically enodwed' argument, I think thats crap. A couple of reasons, India with a population of almost 9 times that of Pakistan must have enough well endowed men, infact the population of WI is much less, and if they can produce so many strong men then surely India can too. Secondly bowlers like Hadlee, Marshall, etc were not physically extraordinary but still one of the best, so its not about physical attibutes but mental attitude. And some Indians also give the being vegetarian argument in this which I think is pretty stupid and totally invalid. Imean there are more than 100 million non-veg muslims in India so why cant a fast bowler beproduced from them.
Its all about role models, kids growing up in India want to become like sachin, sunny, and vengsarkar.