More like the socialism of Brazil- somewhat more utopian and well-intentioned than that of Mexico, but even more socialistic than China is today. Cf. Chandigarh with Brasilia.
There is still not controvertibility between the Rupee and the US Dollar, and many enterprises are still state-owned. However, the material progress of the last decade has happened because of trade and markets, and the government there knows this, so a further opening of the economy is inevitable.
Good news. Thanks.