Free market reforms are not the cure all. If you think they are you did not read Adam Smith sufficiently carefully. What is required is a good government oversight with continuity and strategy. These countries (India and China and virtually all other non 'western nations) have been screwed over by western imperialism and most of them are locked into a state of ongoing subjugation and exploitation by the still dominant western empire/s. Without a government capable of projecting your nations will all 'developing' nations will remain stuck in an endless cycle of moving sideways, dependent upon the western imperial nations who put them in this state deliberately to gain the upper hand. India is hopelessly divided internally and is stuck with a form of government imposed upon it- entirely inappropriate to its actual economic and developmental requirements, again- no accident! China on the other hand has developed its unique and genuinely Chinese form of government and strategy designed to confront the western imperialism that caused such humiliation and exploitation from The Opium Wars onward until WW2. There is significant denial among the west, especially Libertarians who cannot fathom how and why a nominally 'communist' one party state China can for decades outperform the west. Its simple- The Chinese government directs capital flows toward a strategy designed to advance Chinese interests. Chinese strategy is logically coordinated internally and externally. In contrast in the West Capital has captured governments and uses them to advance its own narrow rentseeking interests- there is no cohesive government led strategy because western governments are hopelessly owned by corporate sponsors.