Those who keep comparing India to China should remember this:
..."Determined to match or exceed the performance of developed nations, China’s government has poured billions of dollars into education in the last decade. The results are remarkable: Higher-education enrollment has more than tripled since 2000, and China today awards more college degrees than the United States and India combined. Annual awards of doctoral degrees rose sevenfold between 1996 and 2006.
But critics say the quality of teaching has suffered, and in recent years universities have become more politicized as Communist Party officials began to view a senior academic position as a ticket to career success"...
Source: NY Times Nov 2, 2009
It is a well-established axiom in theory of economic development that education is the single most important factor in growth.
The great leap in education in China is not without its problems. One well-known one is rampant plagiarism and inconsistent quality. That said, more education, however imperfect, is still better than none.