"We have fundamental enforceable human rights, democratic government, independent judiciary, (way too much)state-independent media, functional Intellectual Property Rights(IPR) regime while China lacks all of these."

I don't agree with you here. Maybe you live in a different India. Democratic government -Yes Independent Judiciary - Nope. Look up about the recent Rafael Fiasco. Also, a judge was killed and replaced by a Yes man to protect a mafia politician. Search Justice Loya for more details

state-independent media - To some extent. But there are many ruling party pet new channels

Functional Intellectual Property Right ??? Really ?