Which model India should adopt: social democracy like in Western Europe or free market capitalism like in US?

[buckeyesid]

Social democracy would be like that adopted in much of western Europe after WWII. In it some major industries of nation are controlled by the Government. A lot of major industries like healthcare etc are provided by government. An example of that would be like that of National Health Service in UK or the system in France, which is considered as the best in world ( yes it is better than that of US ). In free market capitalism, there is free market economy and everything is decided by supply and demand. Market controls everything and private companies play a huge part. Downsides of this can be that some of the important systems like healthcare get quite expensive, cant be afforded by everyone and people suffer because of that. While in social-democratic system, government finances everything, therefore there are not many funds available to invest a lot in research and development as is possible in free market capitalism. Please answer thoughtfully supported with reasons. Thanks.