The low annual growth rate of the economy of India before 1980, which stagnated around 3.5% from the 1950s to 1980s, while per capita income averaged 1.3%.[19] At the same time, Pakistan grew by 5%, Indonesia by 9%, Thailand by 9%, South Korea by 10% and Taiwan by 12%.[20] Only four or five licences would be given for steel, electrical power and communications.