Fabulous Economist story entitled, "India's Guangdong."
Short explanation from me b/c fighting ear infection:
Demographic dividend huge in India, and will stretch deep into mid-century. China's, by comparison, had heyday from 1980-2010 and now starts slow decline. China, for example, loses about 1/3 of labor entering workforce over next decade - decline finally set in motion by one-child policy. India surpasses China in labor around 2030, and has 50% more by 2050. SE Asia on similar trajectory.
All comes to say: China, as it moves up value chain (all those Foxconn robots!), exports jobs to India and SE Asia - inevitably. Good and bad thing for China, just like it's been good and bad for US last 30 years.
As I watch this, I keep saying to myself: where is the leading indicator of how India actually gets around to seriously industrializing?
That's why this article so cool: says Gujarat is the state to watch. It's India's Guangdong.
So stay tuned.