Democratic Traditions India independence in 1947 institutionalized a democratic tradition of accountability, transparency, and freedom 1947 through 1990, India's centrally planned economy had led to the infamous "License Raj," a situation marked by elaborate licenses and regulations that were administered by an entrenched, elaborate bureaucracy. In 1991, India began moving toward a free market marked by rising investment, trade, and operating freedom. Its transition, an ongoing process, has stabilized the economy and boosted India's attractiveness as a manufacturing site.