India's Rate of Industrialisation/Modernisation Since 1991

A country's GDP growth rate can be taken as a measure of its rate of industrialisation/modernisation (I/M). After Independence, India opted for an inefficient industrial system - socialism - and industrialised/modernised at an average rate of 3.5% per year. More than four decades later (in 1991) we switched to an efficient industrial system - capitalism. Here are the results:

Year	Rate of Industrialisation/Modernisation
1991	1.06%
1992	5.48%
1993	4.77%
1994	6.65%
1995	7.57%
1996	7.56%
1997	4.05%
1998	6.19%
1999	7.39%
2000	4.03%
2001	5.22%
2002	3.77%
2003	8.37%
2004	8.28%
2005	9.35%
2006	9.67%
2007	9.06%
2008	6.07%

Notice how the rate of I/M increased to 7%+ in the mid-1990s and later to 9%+ in the mid-2000s.

Source: World Bank (via Google public data)