Corruption - however rabid - is but one aspect of the way India has adopted capitalism, selectively & not wisely - if we go by the experts on this subject.
Let us assume for a moment that 'neo-illiberalism' - as SAIyer puts it in this blog - magically ends and is replaced by 'text-book liberalism'. Will this lift the still vast sections of our poor - & that is a fair number - out of poverty? Will this make the benefits of growth reach the far-flung areas of our heterogeneous nation? More importantly, has there been any model/example with a country with >700M poor people being lifted out of abject poverty in a 'liberalistic' capitalist setup? Can SA Iyer & experts of his ilk blog this point?