India has dropped precipitously from 94th rank out of 141 nations to 111th rank out of 144 nations in the Economic Freedom of the World: 2012 Annual Report co-published by Fraser Institute and over seventy other research institutes of the Economic Freedom Network.
The India summary is available here.
I've extracted the detailed one page data in PDF here.
Summary image (click for larger image).
Note: I must say that the 1980 ranking was clearly defective. It simply doesn't ring true. The rest seem to be broadly OK.