Can India still catch up with China and compete against them toe-to-toe?

Ten years back when I read "The White Tiger (by Aravind Adiga)", I remember reading about how the future belongs to brown man (Indian) and yellow man (Chinese). It was the common sentiment at that time. Despite India lagging behind China, the general sentiment was that the difference is not that big and that we would soon catch up with them. Do you think India can still catch up with China?