Point one : The profits won't be the same
Point two: I am talking about manufacturing sector in which India had a chance and India can also do what China has done.
The economic development trend indicate just the opposite:
GDP (ppp) composition in 2012:
China:
total:123800 agriculture: 12008.6 （9.7%） industry: 57690.8 （46.6%） service: 54100 （43.7%）
India:
total: 47350 agriculture: 8049.5 （17%） industry: 8523 （18%） service: 30777.5 （65%）
India is already leaning towards service instead of production (after all, service require less capital investment) and the service percentage of GDP is only getting bigger for India in the past few years while China has an opposite trend.
I honestly doubt India can "also do what China has done". You are talking about two countries with completely different culture, ethic, social structure and history. There are several very important component of the Chinese method that are not present in India:
1. Powerful and efficient central government: The main engine of Chinese growth is a central government that generate consist economic policies and decisions that are not designed to line corporate executives' pocket. Since Chinese government does not depend on open voting, it does not need financial support from major corporation to fund expensive election campaigns. As a result, there is no need for Chinese leaders to cater to the need of wealth businessmen. In China, the main body that scrutinize the leadership is people's assembly and the CCP party itself. Both entities consist of individual from all aspects of the social. This is why for Chinese leaders, the top priority is to get the entire nation to grow rather than just corporations.
2. Unified culture: While China has about 56 ethnic groups, the mandarin Chinese and the Han Chinese culture is dominant to the point that there really isn't any difficulty for different ethnic groups to communicate, work and live together. For example, if you live and grow up in Heilongjiang province (northeast most province of China) and went to work in Guangxi (a Southwestern province of China) despite you have crossed thousands of kilometers, the language, work habit and culture remain essentially unchanged. The same can not be said about India, where even the paper bills have to be print in 38 different languages.
3. High education level: Chinese are obsessed with education. There is really no other way to describe it. Throughout Chinese history, if a family has some left over money or resource, the first they will think is "how can I get better education for my children". Indeed, nowadays, about half of the freshly graduated engineering students of the entire world are from China. Sure, you can find an average individual that ask for less salary in India, Africa and Southeast Asia, but if you try to hire an individual with a degree in engineering, the Indian or African are going to ask a lot more than the Chinese.
4. Work Habits: Chinese are hard working. While there are a lot of hard working people around the world, the Chinese mentality is quite different from other people. For example, if an individual's salary is suddenly doubled, a westerner will think "I only need to work half of the hours to make the same amount of money", but the Chinese will think "now I can make twice as money".
There are many other things. For example, in Mao's era, the Chinese managed to build a complete industry base and support infrastructure. As a result, when China opened its market to the world, its industries are already past the fledgling stage and ready to compete.
The Chinese are always fond of saying everyone must find and walk there own path. It is certainly possible for India to find its own way, but I sincerely doubt it can replicate China's success by "also do what China has done"
india's reforms started in 1991...do u know when did china's reforms start??in 1970s.besides that statement was more in reference with the demographic dividend
Wrong, the Chinese reforms can be traced back to 1949, where the transformation from a feudal-esque agricultural society to an industrial society begun. Such transformation is indicated by the massive infrastructure building, drastically improved education level and drastically reduced death rate. For example, highest natural death rate in the entire PRC history is just under 2% in 1958, it is significantly lower than the average death rate in the years between 1912 and 1949. By 1976, the annual death rate has dropped to about 0.7%. All those started in 1949, the 80s is simply opening up the market to the word and emergency of the private sector.
