This is true and a singular reason for the desirability of cementing a firm alliance. They wasted a generation dallying with the scumbag Nehru, but have been making up ground lost due to that socialist abortion in recent decades. Plus they have a billion people entering the middle class(read: "Market") faster than China's are.
Any informed student of India's modern history will tell you that many of Nehru's social & economic policies laid a solid foundation for building prosperity,but which was wasted after the 60s.The only major mistake he made in the economy was not adequately reforming the agro-sector.