Nope!!I have a rather different take on it.A lot of economists(including "rightist" types) say that Nehruvian socialism was understandable & in some cases,necessary for India till the 70s-it set India on the path to industrialisation,agro-self sufficiency & indegnious science & technology initiatives(if you remember a lot of countries,including Britain had similar policies then).If India had begun liberalising the 70s instead of the late 80s,she would'nt be far behind the PRC.But not only did Indira do nothing,she made the socialist setup entrenched.
I think that a lot of so-called developing nations have confused the expedient policy of corporatism with the systematic philosophy of capitalism.
The free market-left as unfettered as is humanly possible-will always produce better results than a command and control economy, both domestically and abroad.