Hi jamesbondc,
We need to know a bit more about your situation before advising you on the best FFP. Usually, the following info is required to make a good assessment:
1. Location/Home Airport(s)It really helps to know a bit more: ?
2. Flying Frequency: you indicated once a year to India, any fight travel?
3. Destinations: you indicated India once a year, any others?
4. Primary program goals: you indicated free flights (as opposed to elite status and certain specific upgrades, which for some people are more important that free flights)

So I think we have only about half of what we need from you.

Just to start off, you picked two of the best FFP programs: Although plenty of travellers complain about aspects of those AA and CO airlines, their loyalty programs and reward travel opportunities enjoy pretty positive reputations. Given that both programs are pretty good, I would simply do some checking at travel sites to see which airline usually has the cheapest flights from your home airport to your destination city in India. Then stick with that program, you are much better off staying loyal to one than spreading it out over multiple airlines.

As for fast point earnings: other than flying, certain credit card sign up bonuses and miles per dollar spent are the fastest way to build miles. If you are disciplined about CC use (and by this I mean you pay it off every month without fail) then you should definately consider some kind of mileage earning CC, and then put everything, and I do mean everything, that you possibly can on it. In addition to my purchases, I have six of my monthly recurring bills hooked to my CCs. Once you pick your airline loyalty program, then do some research to figure out the best CC for you.