As of now chAnQya should not try to compete with Quora. It's too small both in terms of both infrastructure and user-base. Both these platforms are similar to each other, users voice their opinions on questions asked by other users.
What differs is the user experience, accessibility and satisfaction.
Both Yahoo and Google are search engines to start with but different course of action and visions for their products made Google one of the biggest companies in the world whereas Yahoo is a dying company as of now. Note that when Google started, Yahoo was already a bigger giant in the industry.
Now ChAnQya admins must make sure to retain their existing userbase while adding new users on the side. New users won't matter much if they can't retain their existing users or make them use this website actively.
As users, only thing we can do is to contribute on this website via our answers, articles and questions which will encourage other users to join as well while promoting this website through best of our capabilities via our social media accounts. If popular Quorans join this platform, then it'll attract more users to this site.
Quora has good percentage of Indian users. If we can attract even 50% of those within 1 year, then it'll be a big win in my opinion. Rest will follow automatically by the efforts of the admins and it's users.