Looking at the make up of the sides India is a serious underdog. Missing so many T20 elements
1) No wristies that can be accommodated
2) Batting practically stops at 4
3) Lower order is worth like 10 runs
4) 2 aging and nervous openers
5) Bowlers mainly rely on swing rather than pace
6) Worst fielding side
7) Lack of wicket takers (bar Arshdeep)
In terms of composition
1) Pakistan
2) England
3) India
in that order.
I agree India has issues but its not so bad as you make it out. My counters to your points are as follows:
1) No wristies that can be accommodated - Wristies would be a good addition but they are not deciding factors. If that was the case Australia and Sl had the best leggies. In fact AUS ticks many boxes that you have mentioned yet crashed out in group stage. When India won in 2007 it had only Harbhajan as a spinner to give an historical context.
2) Batting practically stops at 4 - Its a t20 not a 50 over match or test. All we need is 1 among the top 4 to play long like Kohli played against Pak. 6 batsmen plus decent strikers like Axar and Ashwin should be fine.
3) Lower order is worth like 10 runs - NZ just lost 4 wickets today but how much did they score. Their lower order wasn't even utilized. How many times have Chris woakes, Adil rashid and Sam Curran batted in this tournament? Its the job of the batsmen to score while players like Ashwin can chip-in in the odd match.
4) 2 aging and nervous openers - OK, Rohit is 35 but Kl is 30 and younger than both Jos and Hales. This tournament India is scoring at rate of 5.96 in PP while ENG is scoring around 6.79 per over. But in death IND is striking 11.90 against ENGs 8.75 making up for lost runs.
5) Bowlers mainly rely on swing rather than pace - Apart from Wood who else bowls express pace in ENG? We may not be the level of Pakistan but Eng also are not. Bowlers from both sides can go for runs.
6) Worst fielding side - NZ was the best fielding side but how many catches did they drop today? It all depends on who can handle the nerves better on the given day. Moeen Ali too dropped an absolute dolly so did Kohli.
7) Lack of wicket takers (bar Arshdeep) - ENG have picked 34 wickets in 4 matches while IND has picked 38 in 5 matches. But note that ENG vs AUS was rained off. Its not a huge difference. If you remove SA match wickets its 33 and if you remove Pakistan match wickets its 30. Today Pak was able to just take 4 wickets mind you. I am not saying wicket taking is not important but just emphasizing that Indian bowling has been not bad.
I am as nervous as any Indian fan for tomorrow although we have won the past 4 t20 series against ENG 2 at hoem and 2 away each by a margin of 1 match. Yet this is a knockout so anything can happen. You are sounding as if IND is some minnow as batting, bowling and fielding has been written off.
Lets be positive and hope for the best. The brighter points for me are India already has played in this ground against BD and have a slight advantage. Also the pitch isn't bouncy like Perth or Melboune and would suit our batsmen. Fingers crossed for tomorrow.