I'm sure it would make sense from a business stand point and you can already see Harley moving in this direction. As long as the quality of the parts they'd been sourcing are up to snuff I think that Harley would be making a good move to create a hub here.
I'm sure the company is slightly hesitant to put too much in India since Harley is know as an American company. It makes sense as a base for building and sending bikes to Asia though. Bikes sold in America would still be built in America.