I've followed Indian cricket closely over the last 10 years, and every fan has always dreaded the day when we lost Sachin, Dravid and Laxman (Sehwag has recently been added to the bunch, whilst I never thought we'd miss Ganguly's batting much). Obviously the loss of these 4 players will still be extremely hard to cover, but never have we at any one time had players as talented as Vijay, Pujara, Kohli, Rohit Sharma and Badrinath all at the same time. It's gotten to the point where, on merit, Yuvraj (who is obviously isn't very good, but would walk into NZ, SL, WI and would be very close to making SL's team) should not even be near making the Indian batting lineup.
The ironic thing of course is despite all this depth, we're still playing Raina, who looks out of his league at test level when facing quality bowling.
But if you carefully look at some of the first choice backup batsman India has had in the past (Jaffer, Chopra, Karthik, Kaif (even though I liked him)) they have been far less talented.