India, Jan. 4 -- Two nations entered the 1990s as poor economies. In fact, India was ahead of China in per capita GDP until the mid-1980s. By 1990, they were roughly equal. Today, the gap is stark. China's economy stands at around $18-19 trillion; India remains at $4 trillion. The Chinese citizen is five times wealthier. To worsen the contrast, income inequality is lower in China than in India.

On almost all measures of material progress, China is well ahead. The average Chinese worker is two-and-a-half times more productive than the average Indian worker. China spends 2.6 percent of GDP on research and development; India spends around 0.6 percent. Chinese applicants file 16 lakh patent applications a year; India has only recently crosse...