Cloud computing is great, but only in combination with "regular" computing. The only reliable way to manage data is to store and back up locally, and also to the cloud.
The Chromebook model requires the user to have a fully functional machine, browser, connection and Web services. Without each and every one of these elements working perfectly, a Chromebook is nothing but a tray for serving snacks.
So Chromebook - fail, especially in 'developing' countries like India where we are subjected to frequent internet connection outages. And cloud based computing is not bulletproof - even heavyweight Amazon's service were disrupted in April, for a week!