Well I was meaning in the constrained time scale that is Hearts of Iron IV (10 years), and you conveniently cut out what I said about "China and India realistically could have large albeit crude, inefficient, unsafe, and low quality industries", which are all characteristics of industries that cannot survive on the long run, but can survive long enough to help with, say, a world war.
Keep in mind hoi4 ends in 1948, so it's a 12 year timeframe.