That number has just got to be unacceptable, period. and India seem's to achieve it with far fewer vehicles per capita than quite a few other nations.
These are the two most telling statements in this article - "Evidence of road accidents seems to be everywhere in urban India." and "it is rare to meet someone in urban India who has not lost a family member, friend or colleague on the road."
I've seen the signs myself quite a few times and know too many people who've died in road accidents. I used to ride a motorcycle for over 10 years on those very streets. Having witnessed traffic in other parts of the world, now I wouldn't dare get on a two-wheeler.
Seems like things have just got worse. Depressing!