I'm going to just throw this out there because I was born in India and lived there when I was young. It's been my experience that Indian workers are far more hardworking than the French. I don't think quality will go down in any way.
I am concerned about price point though and would be very concerned about what kind of wage they pay. This could be a wonderful living wage for a lot of people in India, to feed their families, etc. The people in India, by and large, are very well educated (indeed, their schools are better than the schools in North Carolina in terms of math, science, humanities, history). It's immportant to remember that while the wage may seem very low to us, the cost of living is far lower as well. If they pay a decent living wage, please realize this could save lives, families, provide schooling for children, etc.
Indian people have a VERY strong work ethic when they are able to get jobs (my father was a surgical missionary there). I would venture to say their work ethic is far stronger than the typical work ethic for the French. Please don't judge an entire country.
I do realize that the price increases have been terrible lately for LV; perhaps this might help with the 3 increases in a year thing . . . perhaps not. We wouldn't love LV as much if the luxury wasn't associated with it (if we're honest).
Don't necessarily assume though that there is an automatic exploitation of workers. What you may have is families and lives changed and made better by having a job that can support your family, send your children to school, etc.
As far as exploitation too, most LV SAs that I know have second jobs due to the fact that the wages they are paid are not a living wage. The one I knew in Charlotte prior to my SA now had to quit because her salary could be higher working as a legal assistant.
The poverty in India is terrible. The thought of people having money to care for their families, get health care, schooling, etc., (for someone who has lived there and seen the poverty first hand) might be a really wonderful thing for some of these people.
I know the outsourcing for cell phones has changed the lives of Indian woman tremendously for the better. They have more say in their lives, more power, less need to marry young for money. While we tend to look at this as a sweatshop type thing, most LV factories are clean, bright and well-maintained. The cell phone companies in India have really nice working conditions for their employees (by and large) and it is a godsend to them. India and China, while both being in Asia, per se, are VERY different countries.