Beyond the Hype: Is India Truly Ready to Industrialize or Just Dream Big?

By Mukesh Devrari It has been repeated quite often in our media that the economies of India and China were almost equal in size nearly three decades ago. However, today China’s economy is more than six times larger than India’s. The remarkable success of China’s economy has not only changed the global economic landscape but has also pushed the frontiers of human achievement in various areas, including space exploration, artificial intelligence, and manufacturing. Perhaps the most significant impact of China’s economic development has been the lifting of more than 800 million people out of poverty—an unprecedented achievement in human history. As a result, the entire developing world now looks up to China in an attempt to understand how such an economic transformation was made possible. Many countries in Southeast Asia, most prominently Vietnam, are actively replicating China’s development model. Meanwhile, India continues to struggle with industrialization and is attempting to emu...