India poised to gain as China retreats from market reforms: Expert

India's 1991 economic reforms, though transformative in hindsight, were implemented amid considerable skepticism and reluctance from policymakers who harbored deep-seated doubts about private enterprise and market mechanisms, according to veterans of that pivotal period. The liberalization framework faced institutional resistance and was adopted more as a pragmatic response to fiscal crisis than as an ideological conviction in capitalism. Now, as China begins to tighten state control over its economy and retrench from some market-oriented policies, business strategists argue that India stands to benefit from a fundamental realignment in global manufacturing and investment flows. The shift creates an opening for Indian policymakers to position the country as a reliable, stable alternative for companies seeking to diversify operations away from China's increasingly interventionist environment. With nearly three decades of experience managing a market economy—however imperfectly—India could capitalize on multinational corporations' renewed interest in establishing supply chains and operations across South Asia, provided the government maintains commitment to open policies and regulatory predictability.