Wiki says there are 200 million odd child labourers globally. As per the Indian census of 2011, the number of child labourers in India is way lower than your 160 M figure.
India’s census figures are mostly reliable, unlikely to be off by an order of magnitude.
As per this link, there are 1.8 billion children globally (i.e. below 14). India has roughly 250 Million children so around 14% of the world population of children.
There are roughly 250 million child laborers globally of which 11 million are Indian children so around 4.4% of the global child labor population is Indian.
I.e., despite having 14% of the world's kids, only 4.4% are child laborers. I'd say India is moving in the right direction when it comes to child welfare.
So, having abandoned your points A and B above, your new point is that being that there are countries with worse child labour problems, India is moving in the right direction?
None of the quoted stats or linked articles support the assertion that things are improving. The only trend that I can see noted is that Indian child labourers are moving to the cities to do manufacturing work and abandoning rural/agriculture work which on the face of it doesn't seem like a fully positive development development all.
India’s census figures are mostly reliable, unlikely to be off by an order of magnitude.
https://en.m.wikipedia.org/wiki/Child_labour_in_India