"However, India’s structural transformation story has some successes as well. One of them that is worth mentioning is that it has a far more sophisticated economy than suggested by its income level. India is 42nd among the 133 economies included in the Economic Complexity Index, which is no mean achievement for a country that is 107th in terms of per capita income. The old Indian planning strategy has seen ample failures, but its big success was the creation of a diversified industrial structure. For example, in the high noon of Nehruvian planning between 1955 and 1965, industrial production growth averaged 8% a year, far outpacing the rest of the economy. More important in the context of this column, production of capital goods went up by 16% a year while intermediate goods production growth averaged 8% a year."
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