Europe as a continent can't really handle many more people than it has now, anyway; Europe is the least fertile inhabitable continent save desert-filled Australia.
Your economies would be growing faster if you had a higher birth rate. And regarding your last sentence, um......the last 2 thousand years kind of disprove that. It may be less fertile than Africa, but you can't have lots of farms if elephants are going to trample through every few days and destroy your crops
India will have the upper hand in terms of manufacturing for a while, but their ballooning population will soon become so great that the government can no longer effectively provide services.
They've managed to go from 370 Million in 1950 to 1.1 Billion today while managing to decrease poverty and increase the food supply, contrary to what doomsayers have predicted. Adding another 500 million may not help the environment, which is sad, but I'm sure India can manage it.
