China went for reforms in 1978 & India in 1991 i.e. 13 years later. From mid seventies to 1991, for around 5/6 years non-Congress parties were in power and the rest of the time, it was Congress rule. Unfortunately, no one (including Morarji Desai and V.P. Singh specialty of both were finance) had the vision to go for reforms. Though we are late by 13 years, the country should be ever grateful to M/S Narsimha Rao and M. M. Singh and not necessarily to Congress.
Then, after a couple of those cycles, the upcoming PM just stares at the whole thing, says "screw it" and just invites foreign MNC's to run the country.
That's NOT reform mate :)
In China, the first "industrial study" was the GLF (Great Leap Forward) which happened in early 50s. This was an EXPERIMENT and experiments fail, many times. This translated to 5 million+ deaths. Then, an effective industry was established w/ the lo ...more