[dimitar]

India had some remnants of capitalist economy but it was mostly socialist (although democratic) and inspired by the Soviet Union.

Economic liberalisation began in China in ~1978 and Indian reform in ~1991. So, the Chinese are more than 10 years ahead.

So, while it is worse its not a lot worse. It is made great strides in IT, steel, textiles and other fields.

I expect in 10 to 20 years India to be a serious competitive threat to China, especially considering demographic trends.