Please be specific about the mechanics.
I agree with the OP in the sense that the biggest problem in India is that if you are rich, you don't have to worry about the law. Let me give you couple of examples:
1. The murder of Jessica Lal. http://en.wikipedia.org/wiki/Murder_of_Jessica_Lal Even though the accused is in jail right now, it was not because law enforcement worked. It was because of Indian Media. Read the Wikipedia page to get more details.
2. Almost all Indian politicians are corrupt. http://en.wikipedia.org/wiki/List_of_politicians_in_India_ch... Now, it's one thing to get away with a crime but it's a whole another thing to still be active in politics after your crimes are exposed. E.g. Lalu Yadav was involved in a scam costing government ~190MM. He later became Railway Minister and he is still active. Compare this to US. Eliot Spitzer, a generally honest man, had to quit politics after his sex scandal came out.
3. Salman Khan, a famous Indian actor, was drunk driving and killed a person. He didn't do any jail time. [ http://www.rediff.com/news/2002/sep/28khan.htm ]
I grew up in India and I have personally seen how the rich people have used money to circumvent the law.
This lack of enforcement against rich people leads to a situation where common people have no respect for the law. And that is why corruption is so rampant in India.
IMHO, A law enforcement similar to how it's in USA, will do wonders to India and it's economy. Though I should add that before we adapt strict law enforcement, we have to revamp our ridiculously outdated laws [http://en.wikipedia.org/wiki/Indian_Penal_Code]. E.g. It was only in 2009 when the law banning gay people was scrapped down.
However, this ignores the question: how would enforcing laws against the wealthy and privileged affect the particular problem we are discussing in this article (wheat rotting while children starve)?
It's very possible that the local jute industry was given protection by the government because they bribed the appropriate civil servants/elected officials. Neither the bribers or the bribees will ever face any sort of prosecution for their actions, despite the fact that giving or taking bribes is clearly illegal.