You realise this is a platitude, right?
I hear this all the time, but in virtually all situations its irrelevant to the discussion at hand.
Historically, communist countries have had terrible standards of living; this is extremely well documented; some (actually, just china as far as I know) have stepped away from an entirely government controlled economy to a government directed economy, and that seems to be working out for them pretty well.
Being a democracy doesn't mean you'll have a great economy and a high standard of living. There are plenty of examples of that not working as well.
...but we've got a few more examples of that working out, than we do of communist regimes working out, historically. You think perhaps there might be a bit of causation there?
Certainly, and importantly, this is totally irrelevant to India.