Technically, India did not do this. The people lifted themselves out of poverty because, finally, India‘s government had granted them enough freedom to pursue their happiness.
To neoliberalism, Countries and Companies are like the ghosts. They have a will of their own, they are immaterial and can't be pinned down.
Together with the omnipotent and omnibenevolent Invisible Hand they form the Trinity and Haunt the stock market.
If there is a recession, it is never a structural problem in the market, it is always because the consumers have sinned.