In 1991, at the start of India's economic liberalization, the Indian economy was almost as big as China's. Today it is just one-fith of its neighbour's. How did that happen? China was faster and more effective in implementing reforms.
Its not a race with china, our focus should be on sustainable long lasting growth not short term quick growth.
Corruption and underground economy does not help. China may face a hard landing as they were export dependent economy. Now the world is demanding from China to switch to consumption based economy. This shift is not easy, especially, when millions may be without job. On the other hand, India is improving on export, and at the same time local consumption is increasing ... a balanced growth