Can India catch up with China?

China and India are two neighbouring and most populous countries containing about 37.5% of the world population. These economies have big land mass, abundant resource bases and have significant impact on world economy. The two Asian emerging economies appear to have much in common, though they have pursued dissimilar growth paths. Both countries initiated the reform process at different times with Deng Xiao Ping in 1979 and India in 1991. Here an attempt has been made to compare and contrast the development strategies of India and China on the basis of various economic determinants such as GDP, Foreign Exchange Reserves, Foreign trade, FDI, investment, other demographic and social features by applying suitable statistical tools. It was found that China is ahead of India in almost all important fronts. India has an excellent chance of catching up with China if it can increase its labour force participation rate, increase the average level of education, improve the quality of its labour force through special training programmes, reduce impediments to let foreign capital participate in its development process, design policies to cultivate a culture of entrepreneurship, and reduce corruption at all levels. Make in India campaign can lead India towards an effective destination as well as grow the Indian economy ahead. It will provide a successful track of employment to the youths of country which will surely help in reducing the poverty level and other social issues in India.