Is Slumdog millionaire stereotypical?

I saw this film and thought it was great but I was also annoyed...I was afraid that those who don't now anything about India may think all of India is how it is portrayed in the film. What do Westerners think of India after watching this film? If an average westerner knows their is poverty in India do all of them also know that India is home to 450 million middle cl people, 120,000 millionaires and 56 billionaires(most in Asia)? Why do westerners have such a stereotypical and one-sided view of India? Doesn't this film simply reinforce that stereotype?