C Raja Mohan writes: India's new possibilities amid China's relative economic decline

Writing in the Financial Times a few weeks ago, well-known investor and fund manager Ruchir Sharma highlighted the irreversible decline of China's share of the global GDP. Sharma represents a growing body of opinion that believes that China has peaked economically. Many China hands, of course, don't agree with the notion that we are in a "post-China world". They point to the enduring strengths of the Chinese economy, its growing technological prowess and expanding military power. Is China's continuing rise ineluctable, or is its incipient decline irreversible? If the world has struggled to come to terms with the dramatic expansion…