Economic history of India

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specified quality, and pattern, for delivery the following year. The middlemen often failed to deliver the ordered quantity, or quality, to the contracted party, with pieces purchased with one companies money, from local weavers across the region, instead sold to a higher bidder. Post the East India Company gaining administrative authority over Bengal, the Company forced the local merchants to fulfil its orders before servicing those of other parties, leading to protest, both from the local middlemen and competing East India Companies. As they did they after the British East India Company started dictating the price of yarn sold within the region, which had historically accounted for the majority of the cost of a cotton piece. The actions though not impacting local product, financially benefitted the Calcutta administration, over the local middlemen and the competing Companies engaged in the international trade.

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increase to 50% of production, compared to the 5–6% extracted in China during the period, and levied largely to fund regional warfare. Combined with the use of labour and livestock for martial purposes, grain and textile prices were driven up, along with nominal wages, as the populace attempted to meet the demands, reducing the competitiveness of Indian handicrafts, and impacting the regional textile trade. Then from 1810 to 1860, the expansion of the British factory system drove down the relative price of textiles worldwide, through productivity advances, a trend that was magnified in India as the concurrent transport revolution dramatically reduced transportation costs, and in a sub-continent that had not seen metalled roads, the introduction of mechanical transport exposed once protected markets to global competition, hitting artisanal manufacture, but stabilizing the agricultural sector.

10331: 351: 509: 2698:, noted the relative decline of the Indian cotton textile industry started in the mid-1820s. The pace of its decline was, however, slow though steady at the beginning, but reached a crisis by 1860, when 563,000 textile workers lost their jobs. Ray estimates that the industry shrank by about 28% by 1850. However, it survived in the high-end and low-end domestic markets. Ray argued that British discriminatory policies undoubtedly depressed the industry's exports, but suggests its decay is better explained by technological innovations in Britain. With Amiya Bagchi estimating the impact of the invention of the 631: 3332: 3304:

out most Indian firms. The railway companies purchased most of their hardware and parts in Britain. Railway maintenance workshops existed in India, but were rarely allowed to manufacture or repair locomotives. Christensen (1996) looked at colonial purpose, local needs, capital, service and private-versus-public interests. He concluded that making the railways dependent on the state hindered success, because railway expenses had to go through the same bureaucratic budgeting process as did all other state expenses. Railway costs could therefore not respond to needs of the railways or their passengers.

3380:. Marshall notes the British raised revenue through local tax administrators and kept the old Mughal tax rates. Instead of the Indian nationalist account of the British as alien aggressors, seizing power by brute force and impoverishing the region, Marshall presents a British nationalist interpretation in which the British were not in full control, but instead were controllers in what was primarily an Indian-run society and in which their ability to keep power depended upon cooperation with Indian elites. Marshall admitted that much of his interpretation is rejected by many historians. 3195:. Countries such as Japan that did not have the necessary access to gold or those, such as India, that were subject to imperial policies remained mostly on a silver standard. Silver-based and gold-based economies then diverged dramatically. The worst affected were silver economies that traded mainly with gold economies. Silver reserves increased in size, causing gold to rise in relative value. The impact on silver-based India was profound, given that most of its trade was with Britain and other gold-based countries. As the price of silver fell, so too did the exchange value of the 3273:. It was used for freight transport. A few more short lines were built in the 1830s and 1840s. They did not interconnect and were used for freight forwarding. The East India Company (and later the colonial government) encouraged new railway companies backed by private investors under a scheme that would provide land and guarantee an annual return of up to five percent during the initial years of operation. The companies were to build and operate the lines under a 99-year lease, with the government retaining the option to buy them earlier. In 1854 Governor-General 73: 3814:. The colonial administration did little to alleviate debt stress. The worst consequences involved deflation, which increased the burden of the debt on villagers. Total economic output did not decline between 1929 and 1934. The worst-hit sector was jute, based in Bengal, which was an important element in overseas trade; it had prospered in the 1920s but prices dropped in the 1930s. Employment also decline, while agriculture and small-scale industry exhibited gains. The most successful new industry was sugar, which had meteoric growth in the 1930s. 127: 4407: 690:(c. 321–185 BC), important changes and developments affected the Indian economy. It was the first time most of India was unified under one ruler. With an empire in place, trade routes became more secure. The empire spent considerable resources building and maintaining roads. The improved infrastructure, combined with increased security, greater uniformity in measurements, and increasing usage of coins as currency, enhanced trade. During this time India's share is estimated to have been from 32% to 35% of the world economy. 2189:'s numerically superior forces on his masters household, and partitioned the Nawab's treasury, to compensate both parties. The Company regained, and fortified Calcutta, later gaining the right to collect tax revenues, on the Nawabs behalf, in the Bengal Subah, from 1765, a right to trade tax free, fortify the cities and factories it established, along with a right to establish local armies, turning the mercantile company, into the effective state apparatus, and later proxy for the British Crown. Following the 824: 747: 679: 808: 3222:(1839–1904) began his industrial career in 1877 with the Central India Spinning, Weaving, and Manufacturing Company in Bombay. While other Indian mills produced cheap coarse yarn (and later cloth) using local short-staple cotton and simple machinery imported from Britain, Tata did much better by importing expensive longer-stapled cotton from Egypt and buying more complex ring-spindle machinery from the United States to spin finer yarn that could compete with imports from Britain. 4041:. Sivramkrishna analysed agricultural surveys conducted in Mysore by Francis Buchanan in 1800–1801, arrived at estimates, using "subsistence basket", that aggregated millet income could be almost five times subsistence level, while corresponding rice income is three times that much. That could be comparable to advance part of Europe. However, due to the scarcity of data, more research is needed, before drawing any conclusion. Shireen Moosvi estimates that Mughal India had a 1726: 4292: 15531: 14330: 4264: 559:. Nigama, pani and Shreni refer most often to economic organisations of merchants, craftspeople and artisans, and perhaps even para-military entities. In particular, the Shreni shared many similarities with modern corporations, which were used in India from around the 8th century BC until around the 10th century AD. The use of such entities in ancient India was widespread, including in virtually every kind of business, political and municipal activity. 3246: 3238: 2880:, massive railway projects were begun in earnest and government jobs and guaranteed pensions attracted a large number of upper caste Hindus into the civil service for the first time. British cotton exports absorbed 55 percent of the Indian market by 1875. In the 1850s the first cotton mills opened in Bombay, posing a challenge to the cottage-based home production system based on family labour. Real GDP per capita grew 14 per cent during 1870–1906. 15541: 615: 1451: 14350: 2146: 4355: 13466: 3485: 14340: 731: 24: 3791:, the railways were used to transport troops and grains to Bombay and Karachi en route to Britain, Mesopotamia and East Africa. With shipments of equipment and parts from Britain curtailed, maintenance became much more difficult; critical workers entered the army; workshops were converted to make munitions; the locomotives, rolling stock, and track of some entire lines were shipped to the 10148: 4002:, writing in 1857, suggested the Nominal (Silver) per capita income of East India Company, in 1854, was approximately 1:12 that of the UK, as was the Nominal per capita tax burden 1:12 of the UK, 1:10 of France, and 1:5 of Prussia. Explaining why the EIC administration was perpetually running local deficits, and in need to borrow monies in India, to fund the administration. 3300:. Most of the railway construction was done by Indian companies supervised by British engineers. The system was sturdily built. Several large princely states built their own rail systems and the network spread across India. By 1900 India had a full range of rail services with diverse ownership and management, operating on broad, metre and narrow gauge networks. 963:, was advanced by the diffusion of the spinning wheel across India during the Delhi Sultanate era, lowering the costs of yarn and helping to increase demand for cotton. The increasing use of the spinning wheel, and the incorporation of the worm gear and crank handle into the roller cotton gin, led to greatly expanded Indian cotton textile production. 4069:($ 804 in 1990 dollars) and for the non-Western world to be $ 188 in 1960 dollars ($ 830 in 1990 dollars), exceeded by both China and India. Other estimates he gives include $ 150–190 for England in 1700 and $ 160–210 for India in 1800. Bairoch estimated that it was only after 1800 that Western European per-capita income pulled ahead. Others such as 587:) who worked as an arbitrator for disputes amongst Shreni from at least the 6th century BC onwards. Between 18 and 150 Shreni at various times in ancient India covered both trading and craft activities. This level of specialisation is indicative of a developed economy in which the Shreni played a critical role. Some Shreni had over 1,000 members. 2420:. Starting in the early 19th century, British textiles began to appear in the Indian markets, with the value of the textile imports growing from £5.2 million in 1850 to £18.4 million in 1896. Raw cotton was imported without tariffs to British factories, which manufactured yarn and textiles and sold them back to India, also without tariffs. 3985:

that of some settler colonies, such as New Zealand, Australia, Canada, and Hong Kong, which some economic historians speculate deprived the Colonial Indian administration of the revenue necessary to provide the public goods to accelerate economic development, literacy, and industrialisation, as experienced elsewhere in the empire.

496:, members of a family pooled their resources to maintain the family and invest in business ventures. The system ensured younger members were trained and employed and that older and disabled members would be supported. The system prevented agricultural land from splitting with each generation, aiding yield from the benefits of 7666: 3364:(1998) continued this line of reasoning, saying that British rule in the 18th century took the form of plunder and was a catastrophe for the traditional economy. According to the economic drain theory, supported by Ray, the British depleted food, and money stocks and imposed high taxes that helped cause the terrible 3215:, Ganges canal, and cultivation of 4,000,000 acres of Assam jungle, which the growth of land under cultivation only keptIng pace with a population that doubled in the same period. The result was little change in Real income levels. Agriculture was still dominant, with most peasants at the subsistence level. 3253:

British investors built a modern railway system in the late 19th century—it became the then fourth-largest in the world and was renowned for the quality of construction and service. The government was supportive, realising its value for military use and for economic growth. The railways at first were

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In the 1890s, Tata launched plans to expand into the heavy industry using Indian funding. The Raj did not provide capital, but aware of Britain's declining position against the US and Germany in the steel industry, it wanted steel mills in India so it promised to purchase any surplus steel Tata could

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in the latter half of the 18th century as an indirect outcome of the collapse of the Mughal Empire, and that British rule later caused further deindustrialization. though Indian textiles maintained a competitive advantage over British textiles until the 19th century. Prasannan Parthasarathi countered

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From 1850 to 1947, India's GDP in 1990 international dollar terms grew from $ 125.7 billion to $ 213.7 billion, a 70% increase, or an average annual growth rate of 0.55%. This was a higher rate of growth than during the Mughal era (1600–1700), when it had grown by 22%, an annual growth rate of 0.20%,

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From FY 1951 to FY 1979, the economy grew at an average rate of about 3.1 percent a year, or at an annual rate of 1.0 percent per capita. During this period, industry grew at an average rate of 4.5 per cent a year, compared with 3 per cent for agriculture. Real GDP per capita grew 59 per cent during

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led the US and other countries friendly towards Pakistan to withdraw foreign aid to India, which necessitated devaluation. India was told it had to liberalise trade before aid would resume. The response was the politically unpopular step of devaluation accompanied by liberalisation. Defence spending

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The global contribution to world's GDP by major economies from 1 CE to 2003 CE according to Angus Maddison's estimates. Up until the early 18th century, China and India were the two largest economies by GDP output. (** X axis of graph has non-linear scale which underestimates the dominance of India

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There is no doubt that our grievances against the British Empire had a sound basis. As the painstaking statistical work of the Cambridge historian Angus Maddison has shown, India's share of world income collapsed from 22.6% in 1700, almost equal to Europe's share of 23.3% at that time, to as low as

2400:

East India Company buyers, along with independent British, Dutch and French East India company buyers, historically competed against each other, to place pre-paid advanced orders with Bengali middlemen for quantities of cotton pieces (Bolts of cloth approximately 18 yards by one yard in size), of a

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in the south, declared autonomy. However, the Mughal tax administration system was left largely intact with somewhat change with Tapan Raychaudhuri estimating revenue assessment actually increased to 50 percent or more, in contrast to China's 5 to 6 percent, to cover the cost of the wars. Similarly

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The economy in the Indian Subcontinent performed just as it did in ancient times, though now it would face the stress of extensive regional tensions. Parthasarathi estimated that 28,000 tonnes of bullion (mainly from the New World) flowed into the Indian subcontinent between 1600 and 1800, equating

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in 1965/1966 was 24.06% of expenditure, the highest in the period from 1965 to 1989. Exacerbated by the drought of 1965/1966, the devaluation was severe. GDP per capita grew 33% in the 1960s, reaching a peak growth of 142% in the 1970s, before decelerating to 41% in the 1980s and 20% in the 1990s.

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Gold-Silver ratio quintupled to 100-1 during 1920-40 triggering a sterling crisis worse than the 1890s. The Bank of England records the Indian central bank held a positive balance of £1,160 million on 14 July 1947, and that British India maintained a trade surplus, with the United Kingdom, for the

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emerged a national issue during the World Wars with negligible rise in real GDP. Non-royal private wealth was encouraged by colonial administrations during these times. Houses of Birla and Sahu Jain began to challenge the Houses of Martin Burn, Bird Heilgers and Andrew Yule. About one-ninth of the

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Headrick argues that both the Raj lines and the private companies hired only European supervisors, civil engineers and even operating personnel, such as locomotive engineers. The government's Stores Policy required that bids on railway contracts be submitted to the India Office in London, shutting

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Studies of the comparative tax burdens in the British Empire, by days of labour required to meet the per capita tax bill, income tax rates, and gross colonial revenues indicate the tax burden in India required approximately half the number of days of labour to meet, as that of the UK, and a third

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reinterpreted the view that the prosperity of the Mughal era gave way to poverty and anarchy, arguing that the British takeover was not a sharp break with the past. British control was delegated largely through regional rulers and was sustained by a generally prosperous economy through the 18th

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The Shreni had a considerable degree of centralised management. The headman of the Shreni represented the interests of the Shreni in the king's court and in many business matters. The headman could bind the Shreni in contracts, set work conditions, often received higher compensation and was the

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wage levels, arguing that nominal wages were high in Britain so cotton producers had the incentive to invent and purchase expensive new labour-saving technologies, and that wages levels were low in India so producers preferred to increase output by hiring more workers rather than investing in

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This was a shattering blow to manufacturers of fine muslins, jewellery, luxury clothing and footwear, decorative swords and weapons. My own guess would be that the home market for these goods was about 5 percent of Moghul national income and the export market for textiles probably another 1.5

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argue India deindustrialized, in the period between 1750 and 1860, due to two very different causes, before reindustrialization. Between 1750 and 1810, they suggest the loss of Mughal hegemony allowed new despotic rulers to revenue farm their conquered populations, seeing tax and rent demands

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This map shows the change in per capita GDP of India from 1820 CE to 2015 CE. All GDP numbers are inflation adjusted to 1990 International Geary-Khamis dollars. Data Source: Tables of Prof. Angus Maddison (2010). The per capita GDP over various years and population data can be downloaded in a

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had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as

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industry, particularly in the Bengal Subah province. Economic historian Indrajit Ray estimates shipbuilding output of Bengal during the 16th and 17th centuries at 223,250 tons annually, compared with 23,061 tons produced in nineteen British colonies in North America from 1769 to 1771.

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During this period, the East India Company began tax administration reforms in a fast expanding empire spread over 250 million acres (1,000,000 km), or 35 percent of Indian domain, with regional land, opium and salt taxes set, and collected. Indirect rule was established on

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was invented in the Indian subcontinent during the 13th and 14th centuries, and is still used in India through to the present day. The incorporation of the crank handle in the cotton gin first appeared in the Indian subcontinent some time during the late Delhi Sultanate or the early

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also criticised estimates that showed low per-capita income and GDP growth rates in Asia (especially China and India) prior to the 19th century, pointing to later research that found significantly higher per-capita income and growth rates in China and India during that period.

3368:, which killed a third of the people of Bengal. Ray also argued British India failed to offer the necessary encouragement, technology transfers, and protectionist frameworks, to permit British India to replicate Britain's own industrialisation, before its independence. 2783:

The second quarter of the 19th century, raw materials, which chiefly consisted of raw cotton, opium, and indigo, accounted for most of India's exports. By the end of the 1930s Indian textiles, and raw cotton, jute, hemp, and silk exports exceed $ 200 million, annually.

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rule from 1700 to 1850 where it grew 39%, or 0.22% annually. However, by the end of British rule, India's economy represented a much smaller proportion of global GDP. In 1820, India's GDP was 16% of the global GDP. By 1870, it had fallen to 12%, and by 1947 to 4%. The

2408:, and again start taxing Indian textile imports, while in parallel allow them access to the markets of India. Which the UK parliaments partly conceded to, with removal of the East India Company's two hundred year old monopoly on most British trade with India, via the 2771:

Indian textiles had maintained a competitive advantage over British textiles up until the 19th century, when Britain eventually overtook India as the world's largest cotton textile manufacturer. In 1811, Bengal was still a major exporter of cotton cloth to the

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as a major economic power. Sivramkrishna analyzing agricultural surveys conducted in Mysore by Francis Buchanan in 1800–1801, arrived at estimates, using "subsistence basket", that aggregated millet income could be almost five times subsistence level. The

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have blamed the colonial rule for the current dismal state of India's economy, with investment in Indian industries limited since it was a colony. Under British rule, India's a number of native manufacturing industries shrank. The economic policies of the

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In the 1750s fine cotton and silk was exported from India to markets in Europe, Americas, Asia, and Africa. With East India Company supplied cotton pieces comprising approximately 30%, by value, of the trade goods bartered for Slaves in the Anglo-African

279:, resulted in India's share of the world economy declining from 24.4% in 1700 to 4.2% in 1950, and its share of global industrial output declining from 25% in 1750 to 2% in 1900. Due to its ancient history as a trading zone and later its colonial status, 562:

The Shreni was a separate legal entity that had the ability to hold property separately from its owners, construct its own rules for governing the behaviour of its members and for it to contract, sue and be sued in its own name. Ancient sources such as

791:

claim this state patronage for overseas trade came to an end by the 13th century AD, when it was largely taken over by the local Parsi, Jewish, Syrian Christian and Muslim communities, initially on the Malabar and subsequently on the Coromandel coast.

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In 1928, 48% of the cotton spindles installed outside Europe, North America and Japan were in India (Dunn and Hardy, 1931: 25). In 1935, 50% of the steel produced outside Europe, North America and Japan was produced in India (BKS, 1950: 265–74). The

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that triggered fiscal deficits through the 1980s. In 1975 India's GDP (in 1990 US dollars) was $ 545 billion, $ 1,561 billion in the USSR, $ 1,266 billion in Japan, and $ 3,517 billion in the US. Real GDP per capita grew 51 per cent during 1977–94.

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1.24% higher in the late 16th century than British India had in the early 20th century, although the difference would be less if increasing purchasing power in terms of manufactured goods were taken into account. She also estimates that the

1531:. By 1600, between 4.6% and 15% of India's population lived in urban areas, with the figure measuring between 6.4% and 11% around 1840. Several cities had a population between a quarter of a million and half a million, while some including 3684:

were falling in India, and were "far below European levels". This has been disputed by others, who argued that real wage decline occurred in the early 19th century, or possibly beginning in the late 18th century, largely as a result of

3292:, covering a distance of 34 km (21 mi). The route mileage of this network increased from 1,349 km (838 mi) in 1860 to 25,495 km (15,842 mi) in 1880 – mostly radiating inland from the port cities of Bombay, 3784:) in 1908. It became the leading iron and steel producer in India, with 120,000 employees in 1945. TISCO became an India's symbol of technical skill, managerial competence, entrepreneurial flair, and high pay for industrial workers. 15496: 3759:

and a modern legal system. Extensive irrigation systems were built, providing an impetus for growing cash crops for export and for raw materials for Indian industry, especially jute, cotton, sugarcane, coffee, rubber, and tea.

1993:, the treasury emptied, tens of thousands killed, and many thousands more carried off, with their livestock, as slaves, weakening the empire and leading to the emergence of post-Mughal states. The Mughals were replaced by the 3795:. The railways could barely keep up with the sudden increase in demand. By the end of the war, the railways had deteriorated badly. In the Second World War the railway workshops were again converted into munitions workshops. 3493:

India accounted for 25% of the world's industrial output in 1750, declining to 2% of the world's industrial output in 1900. Britain replaced India as the world's largest textile manufacturer in the 19th century. In terms of

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administrative authority. The headman was often selected via an election by the members of the Shreni, and could also be removed from power by the general assembly. The headman often ran the enterprise with two to five

2211:, and for more than a decade, which it had hitherto used to pay for the goods shipped back to Britain, the American colonies, East Asia, or on to African Slavers, to be bartered for Slaves in the Atlantic Slave trade: 15506: 9279: 919:, leading to escalating circulation of goods, people, technologies and ideas. While initially disruptive, the Delhi Sultanate was responsible for integrating the Indian subcontinent into a growing world system. 8525:"The Digital South Asia Library-Statistics: - No. 5 - Total Gross Amount of the Public Revenue and Expenditure of British India, showing Surplus Or Deficiency of Revenue, in each of the Years ended 30th April" 5233:

George Forster ... On the 31st of March, I visited the Atashghah, or place of fire; and on making myself known to the Hindoo mendicants, who resided there, I was received among these sons of Brihma as a

5019:, (Bangalore: United Theological College, 1982), pp. 10–12. Kuriakose gives a translation of the related but later copper plate grant to Iravi Kortan on pp. 14–15. For earlier translations, see S. G. Pothan, 461:, mostly centred around rivers, developed into centres of trade and commerce. Religious functions, festivals and the practice of taking a pilgrimage resulted in an early version of the hospitality industry. 224:, which for a time Maddison estimates became the largest economy and manufacturing power in the world, producing about a quarter of global GDP, before fragmenting and being conquered over the next century. 3436:

Economic historians have investigated regional differences in taxation, and public good provision, across the British Raj, with a strong positive correlation found between education spending, and

11963: 15501: 15460: 4225:, which provided technology assistance and transfer in the field of heavy industries such as Oil & Gas, Nuclear, Mining, Machinery, Railways, Heavy equipment, Electrical equipment etc. 2207:

Immediately following the East India Company gaining the right to collect revenue, on behalf of the Nawab of Bengal, the Company largely ceased a century and a half practice of importing

15470: 6389:"Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: The Early British Industrial Revolution and Infant Industry Protectionism: The Case of Cotton Textiles" 5278:

Hindoos, which has long been established in Baku, contributes largely to the circulation of its commerce; and with the Armenians they may be accounted the principal merchants of Shirwan

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Despite a considerable improvement in rate of growth of India's real GDP in the 1950s, the performance of the Indian economy did not meet the expectations of India's political leaders.

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Mohenjo-Daro and the Indus Civilization: Being an Official Account of Archaeological Excavations at Mohenjo-Daro Carried Out by the Government of India Between the Years 1922 and 1927

362:, the first known permanent and predominantly urban settlement, flourished between 3500 BCE and 1800 BCE. It featured an advanced and thriving economic system. Its citizens practised 922:

The period coincided with greater use of mechanical technology in the Indian subcontinent. From the 13th century onwards, India began adopting some mechanical technologies from the

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The Persians have very little maritime strength ... their ship carpenters on the Caspian were mostly Indians ... there is a little temple, in which the Indians now worship

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two hundred years later in 1800, which totaled $ 90 million). The Indian subcontinent region's economy was estimated to be the 2nd largest in the world in 1600, only below China.

15511: 1909:

were exported in large quantities to Europe, Indonesia, Japan, and Africa, where they formed a significant element in the exchange of goods for slaves, and treasure. In Britain

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comparisons, the US dollar is converted at 9.46 rupees. Despite continuous real GDP growth of at least 5% since 2009, the Indian economy was mired in bureaucratic hurdles.

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was widely reported to have a fortune of almost £668 million then. About one-sixth of the national population were urban by 1950. A US Dollar was exchanged at 4.79 rupees.

3728:, and industrialisation began only in the late 19th century. Several historians have suggested that this was because India was still a largely agricultural nation with low 15310: 15290: 15240: 15225: 15220: 11579: 10979: 10826: 10808: 4285:

Economic liberalisation in India since the 1990s led to paradigm shift in growth and structure of national income. Real GDP per capita grew 142 per cent during 1994–2013.

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3.8% in 1952. Indeed, at the beginning of the 20th century, "the brightest jewel in the British Crown" was the poorest country in the world in terms of per capita income.

15435: 15370: 15350: 3451:, and All India Village Industries Association, in the 1930s, to promote an alternative, self sufficient, indigenous, village economy, approach to development, over the 1901:

was responsible for a large part of the empire's international trade. The most important center of cotton production was the Bengal Subah province, particularly around

856:

Other scholars suggest trading from India to West Asia and Eastern Europe was active between the 14th and 18th centuries. During this period, Indian traders settled in

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Service markets which would enjoy much lighter burden of regulation and other obstacles became more successful than still regulated sectors. For example, world-famous

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formulated a plan to construct a network of trunk lines connecting the principal regions. A series of new rail companies were established, leading to rapid expansion.

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Villages paid a portion of their agricultural produce as revenue to the rulers, while their craftsmen received a part of the crops at harvest time for their services.

3323:, locally, with production increasing once local deposits had been identified, to by the 1940s, sixty million gallons of petrochemicals were being produced annually. 3307:

In 1951, forty-two separate railway systems, including thirty-two lines owned by the former Indian princely states, were amalgamated to form a single unit named the

154:.The resulting political unity and military security allowed for a common economic system and enhanced trade and commerce, with increased agricultural productivity. 14431: 9602: 9432: 3751:

created an institutional environment that stabilized Indian society, though they stifled trade with the rest of the world. They created a well-developed system of

2837: 8574:"Ascertaining Living Standards in Erstwhile Mysore, Southern India, from Francis Buchanan's Journey of 1800-01: An Empirical Contribution to the Great Divergence" 8551:"Ascertaining Living Standards in Erstwhile Mysore, Southern India, from Francis Buchanan's Journey of 1800-01: An Empirical Contribution to the Great Divergence" 3229:

By the end of the 1930s, Cotton, Jute, Peanuts, Tea, Tobacco, and Hides accounted for the majority of the $ 500+ million of agricultural derived, annual exports.

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The Indian economy grew at about 1% per year from 1890 to 1910, in line with, and largely dependent on increased agricultural output, through schemes such as the

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to assess the cultivated area. The Mughal state encouraged greater land cultivation by offering tax-free periods to those who brought new land under cultivation.

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Science and Modern India: An Institutional History, c.1784-1947: Project of History of Science, Philosophy and Culture in Indian Civilization, Volume XV, Part 4

2780:. However, Bengali cotton exports declined over the course of the early 19th century, as British imports to Bengal increased, from 25% in 1811 to 93% in 1840. 1835:, for example, became somewhat dependent on Indian textiles and silks. From the late 17th century to the early 18th century, Mughal India accounted for 95% of 4467: 9092: 8942: 8473: 3392: 1863:, and a few luxury items. The trade imbalance caused Europeans to export large quantities of silver and to a lesser extent gold to Mughal India to pay for 1559:, a higher percentage in non-primary sectors than eastern Europe at the time where 65–75% have been estimated to have been engaged in agriculture in 1750. 8914:

Lawrence H. Officer, "Exchange rate between the United States dollar and forty other countries, 1913–1999". Economic History Services, EH.Net, 2002. URL:

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Under the EIC the first Indian authored publications, printed, on locally produced paper, produced in locally established paper mills, appeared, from the

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Broadberry, Stephen, Johann Custodis, and Bishnupriya Gupta. "India and the great divergence: An Anglo-Indian comparison of GDP per capita, 1600–1871."

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region and southeast Asia. Over time, traders organised themselves into associations which received state patronage. Historians Tapan Raychaudhuri and

6327: 2840:, Calcutta was established and the production began on 18 March 1802. There were eighteen ordnance factories before India became independent in 1947. 201:, due to its large population, had one of the largest economy of any region in the world for most of the interval between the 1st and 18th centuries. 14270: 13740: 13220: 13058: 12514: 10140: 7271: 4437: 3254:

privately owned and operated, and run by British administrators, engineers and skilled craftsmen. At first, only the unskilled workers were Indians.

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was greatly diminished. The closing of some local mints and close supervision of the rest, the fixing of exchange rates and the standardization of

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that several post-Mughal states did not decline, notably Bengal, Marathas and Mysore, which were comparable to Britain into the late 18th century.

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helped finance the company's administration, raise Sepoy armies, and fund wars in other parts of India, and later further afield, for example the

783:

were the sites of important trading centres from as early as the 1st century BC, used for import and export as well as transit points between the

10772: 9507:(I.B. Tauris, 2012) 315 pages; focus on Indian entrepreneurs who benefited from the Raj, but ultimately sided with the Indian National Congress. 9051: 4113:

Before independence a large share of tax revenue was generated by the land tax. Thereafter land taxes steadily declined as a share of revenues.

1997:

as the dominant military power in much of India, while the other smaller regional kingdoms who were mostly late Mughal tributaries, such as the

698:

The number of coins in circulation declined and instead credit arrangements predominated. Contemporary Hindu law devote increasing attention to

539:

Along with the family- and individually-owned businesses, ancient India possessed other forms of engaging in collective activity, including the

14853: 14227: 13662: 13015: 12436: 10924: 10595: 9191: 7949: 4279:

Economic liberalisation in India was initiated in 1991 by Prime Minister P. V. Narasimha Rao and his then-Finance Minister Dr. Manmohan Singh.

15001: 8441: 1990: 5269:

A journey from Bengal to England: through the northern part of India, Kashmire, Afghanistan, and Persia, and into Russia, by the Caspian-Sea

15420: 15072: 11719: 10192: 7821: 4462: 3498:, Mughal India had a higher percentage of its population (15%) living in urban centres in 1600 than British India did in the 19th century. 10088: 7877: 14868: 12217: 11842: 8705: 8642: 6883: 4472: 3184: 1905:. Bengal alone accounted for more than 50% of textiles and around 80% of silks imported by the Dutch. Bengali silk, cotton textiles, and 190: 6785: 15465: 14900: 14813: 14386: 14206: 13765: 13454: 12987: 12539: 10974: 10798: 8001: 6388: 4124:. Refugee settlement was a considerable economic strain. Partition divided India into complementary economic zones. Under the British, 345: 4209:

was a believer in socialism and decided that India needed maximum steel production. He, therefore, formed a government-owned company,

4050:

contributed a higher percentage to the Mughal economy (18.2%) than it did to the economy of early 20th-century British India (11.2%).

3166: 2820:

network was expanded from the 2,500 kilometres (1,600 mi), constructed to 1850, to 350,000 kilometres (220,000 mi) by 1943.

41: 15065: 14986: 13818: 13635: 13519: 12592: 12409: 12293: 12073: 11765: 10836: 10821: 1832: 1034: 4303:

The Indian steel industry began expanding into Europe in the 21st century. In January 2007 India's Tata bought European steel maker

3747:

During 1906–50, real GDP per capita of India fell 5.7 per cent while that of the UK grew 45 per cent and the USA grew 111 per cent.

14275: 14242: 13432: 13063: 13030: 10130: 3460: 10405: 9930:(3 vol, 1968) 2284 pages; also 4th vol. on methodology (1970), focus on India and neighbors; by winner of Nobel prize in economics 6203: 4342:

with various Indian regions. The project, completed in January 2012, was the most ambitious infrastructure project of independent

915:

civilization. It offered wide-ranging international networks, including social and economic networks. They spanned large parts of

15445: 15077: 14547: 14263: 13051: 11027: 10692: 10637: 10495: 7651:

R. O. Christensen, "The State and Indian Railway Performance, 1870–1920: Part I, Financial Efficiency and Standards of Service",

6786:"Rethinking the Origins of British India: State Formation and Military-Fiscal Undertakings in an Eighteenth Century World Region" 5619: 5593: 1490: 7019:

Indrajit Ray (November 2009). "Identifying the woes of the cotton textile industry in Bengal: Tales of the nineteenth century".

5790: 5249:

From Constantinople to the home of Omar Khayyam: travels in Transcaucasia and northern Persia for historic and literary research

15132: 15122: 14925: 14828: 13539: 12313: 11420: 11197: 10869: 10080: 2140: 1672:

system based on a uniform currency. The revenue system was biased in favour of higher value cash crops such as cotton, indigo,

33: 4140:. As a result, after independence India had to convert land previously used for food production to cultivate cotton and jute. 15255: 15082: 14627: 12207: 11909: 11749: 11734: 11528: 11458: 9988: 9964: 9945: 9910: 9879: 9817: 9736: 9584: 9474: 9421: 9394: 9379: 8675: 8612: 8256: 8096: 7959: 7805: 7775: 7746: 7608: 7578: 7518: 7490: 7448: 7192: 6927: 6768: 6741: 6645: 6504: 6487: 6460: 6433: 6295: 6268: 6154: 6118: 6083: 6000: 5930: 5849: 5711: 5677: 5494: 5354: 5226: 5196: 4869: 4752: 4616: 4513: 4296: 4253: 4108: 3742: 2867: 2202: 1445: 980: 527:

testify that merchant guilds and trade corporations played a very significant role in the economy and social life during the

260:

also managed an effective administration and tax collection policy throughout the core areas under its control and extracted

8086: 6604: 6554: 4432: 1867:

imports. Indian goods, especially those from Bengal, were also exported in large quantities to other Asian markets, such as

1500:

output throughout the 1st century AD to up until mid 18th century. The Mughals were responsible for building an extensive

976: 15170: 14280: 14211: 13399: 13394: 13255: 13068: 12992: 12065: 11729: 10702: 10567: 8416: 3320: 2412:, forcing the till then protected Indian market to open to British goods, which could now be sold in India without Company 10382: 5511: 275:

and cessation of various craft industries under British rule, which along with fast economic and population growth in the

138:

minted punch-marked silver coins. The period was marked by intensive trade activity and urban development. By 300 BC, the

15365: 14981: 14735: 14725: 12083: 11914: 11336: 10357: 10352: 9517: 4897: 3988:

The newly independent but weak Union government's treasury reported annual revenue of £334 million in 1950. In contrast,

3391:, suggesting capital amassed from Bengal following its 1757 conquest supported investment in British industries such as 2136: 9145: 2193:, the British Crown would intervene and establish a formal colonial administration in the Company controlled territory. 15565: 14649: 13564: 13559: 12338: 12333: 12192: 11310: 11270: 10590: 10505: 9680: 9548: 9129: 8054: 4120:, which had resulted in about 2 to 4 million refugees fleeing past each other across the new borders between India and 3311:. The existing rail systems were abandoned in favor of zones in 1951 and a total of six zones came into being in 1952. 10697: 9076: 3506:

Stephen Broadberry, Johann Custodis, and Bishnupriya Gupta, in 2014, offered the following comparative estimates for:

3419:

output of the handloom industry, for example, declined from 419 million pounds in 1850 to 240 million pounds in 1900.

959:, which may have largely been spun in the villages and then taken to towns in the form of yarn to be woven into cloth 14343: 13534: 13188: 12308: 12098: 12025: 11711: 11649: 11285: 10788: 10435: 10121: 9794: 9532: 9261: 8979: 8857: 8832: 8214: 7849: 7636: 7281: 7247: 6826: 6213: 6058: 5744: 5417: 5315:

Six or 7 miles southeast is Surakhani, the location of a very ancient monastery of the fire-worshippers of India

5113: 5091: 5068: 4953: 4928: 4850: 4721: 4689: 4457: 3440:; with historic Provincial policies still impacting comparative economic development, productivity, and employment. 1485:

reported an annual revenue of more than £100 million, or $ 450 million, more than ten times that of his contemporary

113: 10410: 9165: 6178: 15415: 15380: 15137: 15097: 15006: 14730: 14506: 14130: 14125: 14118: 13750: 13720: 12913: 12908: 12901: 12524: 12494: 11599: 11564: 11341: 10759: 10555: 10372: 9684: 4247: 4210: 4165:

and therefore could not borrow money internationally or privately. As a result, the government issued bonds to the

2801: 2162: 1984: 313: 248: 178: 4005:

Economic historians such as Prasannan Parthasarathi have criticized these estimates, arguing primary sources show

1676:, tree-crops, and opium, providing state incentives to grow cash crops, adding to rising market demand. Under the 15305: 15300: 15195: 15087: 14991: 14958: 14920: 14745: 14705: 14461: 14310: 14140: 14076: 14056: 13288: 13098: 12923: 12859: 12832: 12078: 11770: 11569: 11513: 10816: 10747: 10727: 10532: 10485: 10460: 9096: 8946: 8477: 1851:

from Asia. Demand for European goods in Mughal India was lighter, Europe's exports being largely limited to some

325: 15400: 15245: 15215: 15205: 14996: 14760: 14670: 14655: 14481: 14471: 14379: 14004: 13447: 13198: 12778: 11265: 10480: 10209: 9286:

The Origins of Industrial Capitalism in India: Business strategies and the working classes in Bombay, 1900-1940

8916: 8737: 4579: 8310:

Colin Simmons, "The Great Depression and Indian Industry: Changing Interpretations and Changing Perceptions",

2006:

in the same period, Maddison gives the following estimates for the late Mughal economy's income distribution:

15390: 15385: 15265: 15037: 14953: 14880: 14740: 14715: 14680: 14607: 14552: 14395: 14258: 14034: 13828: 13745: 13584: 13183: 13046: 12808: 12602: 12519: 12358: 12108: 11784: 11744: 11488: 10400: 7826: 7066: 4801: 3463:, on public revenues, public programs, growth and industrialisation, in the last quarter of the British Raj. 1637:-producing region. Agriculture was advanced compared to Europe, exemplified by the earlier common use of the 194: 8799: 5293:

A Second Journey through Persia, Armenia, and Asia Minor, to Constantinople, between the Years 1810 and 1816

3356:

and other top officials had ruined the Indian economy and society, and elaborated on in the 19th century by

15405: 15360: 15340: 15330: 15230: 15112: 14930: 14905: 14895: 14818: 14765: 14720: 14710: 14700: 14660: 14617: 14577: 14557: 14531: 14441: 14426: 14300: 13994: 13886: 13786: 13705: 13193: 13088: 12768: 12660: 12560: 12479: 12030: 11478: 11234: 10742: 10518: 10475: 7423:

Vinay Bahl, "The Emergence of Large-Scale Steel Industry in India Under British Colonial Rule, 1880–1907",

6695:"Cotton textiles and the great divergence: Lancashire, India and shifting competitive advantage, 1600–1850" 3989: 3479: 1439: 3348:

Debate continues about the economic impact of British imperialism on India. The issue was first raised by

350: 15430: 15345: 15325: 15200: 15060: 15055: 15011: 14863: 14858: 14848: 14838: 14833: 14823: 14808: 14803: 14798: 14775: 14632: 14597: 14587: 14516: 14501: 14496: 14486: 14476: 14446: 14416: 14157: 14024: 13881: 13512: 13507: 13250: 12940: 12798: 12655: 12286: 12281: 12093: 11639: 11483: 11463: 11192: 10944: 10831: 10178: 10157: 9640:

Simmons, Colin (1985), "'De-Industrialization', Industrialization and the Indian Economy, c. 1850–1947",

9505:

The Indian Bourgeoisie: A Political History of the Indian Capitalist Class in the Early Twentieth Century

8701: 8638: 6879: 4604: 3341: 528: 9497:

Lal, K. S. (1995). Growth of scheduled tribes and castes in medieval India. New Delhi: Aditya Prakashan.

7297: 4396:

pandemic led to a recession in the Indian economy. Real GDP per capita grew 39 per cent during 2013–21.

1477:

was at its peak as it controlled the vast region of North India and had entered into alliances with the

15475: 15410: 15375: 15280: 15102: 15050: 14976: 14915: 14890: 14843: 14792: 14770: 14755: 14690: 14612: 14602: 14567: 14562: 14526: 14521: 14491: 14456: 14421: 14410: 14101: 13999: 13478: 13411: 13347: 12884: 12852: 12773: 12252: 12113: 12035: 11904: 11889: 11852: 11739: 11634: 11594: 11351: 11320: 11229: 10907: 10862: 10793: 10540: 9441: 8761: 6733: 6637: 5703: 5346: 5263: 5203:

The Russian merchant, F.A. Kotov ... saw in Isfahan in 1623, both Hindus and Muslims, as Multanis.

4744: 4197:

and suspended the Constitution in 1975. About one-fifth of the national population were urban by 1975.

4178: 4143:

Growth continued in the 1950s, the rate of growth was less positive than India's politicians expected.

2797: 2792:

Exploitable mineral deposits had started to be identified under the East India Company, with the first

337: 309: 4646: 4499: 283:

remained economically integrated with the world, with high levels of trade, investment and migration.

15516: 15395: 15285: 15250: 15235: 15092: 15032: 14935: 14910: 14875: 14750: 14695: 14665: 14592: 14572: 14511: 14466: 14451: 14436: 14372: 14333: 14162: 14009: 13982: 13911: 13846: 13760: 13529: 13440: 13205: 12945: 12783: 12756: 12685: 12620: 12534: 12303: 12202: 11899: 11724: 11574: 11386: 11290: 11207: 11002: 10964: 10395: 10339: 10163: 9361: 7910: 3811: 2849: 2174: 1956:. and exporting silk and cotton textiles, steel, saltpeter and agricultural and industrial products. 1481:. It enforced a uniform customs and tax-administration system. In 1700, the exchequer of the Emperor 429:

textile, food processing and crafts. Besides farmers, people worked as barbers, carpenters, doctors (

359: 13462: 8667:

Sovereign Debt at the Crossroads: Challenges and Proposals for Resolving the Third World Debt Crisis

7555: 4136:), but processing took place mostly in the western part of Bengal, which became the Indian state of 15320: 15275: 15270: 15187: 15179: 15163: 14685: 14622: 14582: 14091: 13956: 13931: 13700: 13389: 12874: 12730: 12705: 12474: 12103: 12055: 12045: 12005: 11995: 11629: 11584: 11544: 11518: 11498: 11275: 11224: 11182: 11063: 11047: 10687: 10612: 10259: 9202: 4545: 2190: 1848: 1527:

Cities and towns experienced growth under the Mughal Empire, which had a relatively high degree of

1467: 1206: 1121: 158: 95: 45: 9923:(Cambridge University Press; 2012), 426 pages; focus on the entrepreneur-led revolution since 1990 8604: 8451: 8297:

Omkar Goswami, "Agriculture in Slump: The Peasant Economy of East and North Bengal in the 1930s",

8049:

Data table in Maddison A (2007), Contours of the World Economy I-2030AD, Oxford University Press,

4116:

The economic problems inherited at independence were exacerbated by the costs associated with the

3191:. France, the US, and other industrialising countries followed Germany in adopting gold after the 3183:(1870–71), Germany extracted a huge indemnity from France of £200,000,000, and then moved to join 1967:

Domestically, much of India depended on Bengali products such as rice, silks and cotton textiles.

15107: 14194: 14182: 14152: 13823: 13770: 13544: 13384: 12977: 12965: 12935: 12597: 12544: 12318: 12088: 12040: 11931: 11894: 11884: 11879: 11624: 11549: 11473: 10949: 10465: 10298: 10052: 9802:

India Unbound: The Social and Economic Revolution from Independence to the Global Information Age

9356:

Donaldson, Dave. "Railroads of the Raj: Estimating the impact of transportation infrastructure."

8499: 8036: 4541: 4505: 4452: 4400: 3752: 2378: 2100:

Among the post-Mughal states that emerged in the 18th century, the dominant economic powers were

1798: 1052: 1022: 1004: 516: 341: 241: 14353: 9346: 2424:

Estimated domestic Indian cotton consumption, production and imports & exports with Britain

2181:, in 1757. The victory was achieved through agreeing to appoint the Nawab's military commander, 14189: 14145: 14029: 13961: 13951: 13916: 13554: 13549: 13332: 12972: 12928: 12803: 12735: 12725: 12690: 12328: 12323: 12172: 11985: 11980: 11926: 11847: 11617: 11612: 11589: 11425: 10912: 10665: 10660: 10647: 10602: 10470: 10098: 10063: 7887: 6174: 5486: 4608: 4058: 2833: 2404:

From the late 18th century British industry began to lobby their government to reintroduce the

2384:

British economic policies gave them a monopoly over India's large market and cotton resources.

1940: 1734: 1716: 1605:. By the mid-17th century, Indian cultivators had begun to extensively grow two crops from the 1524:

until the 1720s. The empire met global demand for Indian agricultural and industrial products.

1000: 508: 205:

estimates that from 1-1000 AD India constituted roughly 30% of the world's Population and GDP.

9304:

Trade and Civilization in the Indian Ocean: An Economic History from the Rise of Islam to 1750

9289: 9119: 8969: 8731: 7975: 7765: 7736: 7126: 6916:"From Market-Determined to Coercion-Based: Textile Manufacturing in Eighteenth-Century Bengal" 6589: 6539: 6450: 6417: 6285: 6252: 6138: 6102: 5990: 5920: 5730: 4566: 3466:

India served as both a significant supplier of raw goods to British manufacturers and a large

14232: 13941: 13791: 13715: 13667: 13657: 13293: 13166: 13151: 13020: 12997: 12715: 12565: 12489: 12441: 12431: 12020: 11968: 11953: 11394: 11315: 11244: 11239: 11032: 10997: 10939: 10855: 10722: 10582: 10545: 10528: 10427: 10320: 10071: 9978: 9500:

Lal, K. S. (1999). Theory and practice of Muslim state in India. New Delhi: Aditya Prakashan.

8779: 8755: 8665: 8524: 8246: 8030: 7157: 6846: 6758: 6727: 6664: 6660: 6631: 6477: 6044: 5697: 5458: 5436: 5387: 5340: 4797: 4738: 4675: 4427: 4194: 4166: 4061:(PPP) per capita than Europe in 1750. For 1750, Bairoch estimated the GNP per capita for the 3693: 3456: 3388: 3365: 3212: 2119: 1989:

In the early half of the 18th century, Mughal Empire fell into decline, with Delhi sacked in

1949: 1882: 1806: 1008: 972: 476:, who spread Jainism. Relating to economics, he emphasised the importance of the concept of ' 233: 10127: 7795: 7667:"Industrialization in India: Growth and Conflict in the Private Corporate Sector, 1914–1947" 6915: 6581: 6531: 5478: 4671: 3981:

Source: Indian sterling balances, p. 2, 15 Jan.1.1947, Bank of England (BoE), OV56/55.

3510:

Indian and UK populations and GDP (PPP) per capita, between 1600 and 1871, in terms of 1990

3331: 887:

housed several centres of river-borne commerce. Most overland trade was carried out via the

14290: 14039: 13977: 13946: 13936: 13896: 13891: 13630: 13569: 13078: 12813: 12751: 12720: 12710: 12670: 12665: 12404: 12343: 12197: 11990: 11973: 11450: 10417: 9708: 4990:(First ed.). Ladnun, India: Jain Vishwa Bharati University, Ladnun, India. p. 46. 4323: 4018: 3511: 3395:

as well as increasing British wealth, while contributing to deindustrialization in Bengal.

2804:

would be established in the Second half of the 19th century, with over 3 million tonnes of

1750: 1688: 1028: 703: 630: 8190:

Making of the Indian Working Class: A Case of the Tata Iron & Steel Company, 1880–1946

8154:

Nomura, Chikayoshi (2011). "Selling steel in the 1920s: TISCO in a period of transition".

3459:

movement, with the mass boycottIng of industrial goods, tax strikes, and abolition of the

2354:

During the period 1780–1860 India changed from an exporter of processed goods paid for in

8: 15485: 15156: 14305: 14295: 14096: 14071: 14044: 13369: 13362: 13357: 13156: 13093: 13083: 12879: 12847: 12818: 12212: 12167: 12131: 12050: 11857: 11834: 11607: 11430: 11202: 11111: 10767: 10737: 10714: 10682: 10513: 10450: 10313: 10303: 9902:

Development Centre Studies The World Economy Historical Statistics: Historical Statistics

9610:

Roy, Tirthankar (Summer 2002), "Economic History and Modern India: Redefining the Link",

8379:"Raising revenue in the British empire, 1870-1940: How 'extractive' were colonial taxes?" 5548:"India and the great divergence: an Anglo-Indian comparison of GDP per capita, 1600–1871" 4567:

Development Centre Studies The World Economy Historical Statistics: Historical Statistics

4534: 4422: 4270: 4158: 3452: 3384: 3357: 3180: 2409: 2123: 1812: 1746: 1681: 1486: 872: 512: 419: 288: 272: 198: 151: 143: 10632: 9310:

Derbyshire, I. D. (1987), "Economic Change and the Railways in North India, 1860–1914",

220:. By the late 17th century, most of the Indian subcontinent had been reunited under the 14172: 14135: 14014: 13921: 13876: 13871: 13710: 13695: 13674: 13604: 13579: 13524: 13313: 13298: 13265: 13215: 13178: 12955: 12918: 12788: 12695: 12650: 12645: 12484: 12469: 12448: 12378: 12353: 12298: 12187: 12182: 12177: 11874: 11374: 11249: 11219: 11172: 11139: 10954: 10560: 10445: 10367: 10347: 10308: 9665: 9657: 9629: 9335: 9327: 9150: 8775: 8398: 8351: 8202: 8171: 7694: 7686: 7624: 7543: 7383: 7358:

Dasgupta, Ajit K. (1 July 1981). "Agricultural Growth Rates in the Punjab, 1906-1942".

7100:"Deindustrialization in India in the Nineteenth Century: Some Theoretical Implications" 7077: 7044: 7036: 7001: 6425: 6260: 6146: 6110: 5567: 4808: 4597: 4117: 4078: 4070: 3798: 3258: 3172: 2902: 2363: 2154: 1948:

was the Mughal' empire's wealthiest province, globally prominent in industries such as

1836: 986: 908: 497: 9242:(4th ed. 1952), 677pp; thorough scholarly coverage; focus on 20th century down to 1939 500:. Such sanctions curbed rivalry in junior members and instilled a sense of obedience. 15540: 15042: 14177: 14066: 14061: 13926: 13906: 13901: 13813: 13808: 13625: 13574: 13352: 13342: 13337: 13240: 13225: 12960: 12842: 12837: 12700: 12680: 12675: 12587: 12582: 12399: 12348: 12159: 11958: 11822: 11523: 11177: 10732: 10655: 10377: 10362: 10117: 10067: 9984: 9960: 9941: 9906: 9875: 9813: 9790: 9732: 9669: 9580: 9544: 9528: 9470: 9417: 9390: 9375: 9339: 9257: 9125: 8975: 8853: 8850:

Sustainable Welfare in the Asia-Pacific: Studies Using the Genuine Progress Indicator

8828: 8671: 8608: 8378: 8252: 8210: 8175: 8092: 8050: 7955: 7930: 7845: 7801: 7771: 7742: 7698: 7632: 7604: 7574: 7514: 7486: 7444: 7387: 7375: 7277: 7243: 7188: 7099: 7048: 7032: 7005: 6993: 6989: 6923: 6822: 6764: 6737: 6694: 6641: 6582: 6532: 6483: 6456: 6429: 6420:. In Lex Heerma van Voss; Els Hiemstra-Kuperus; Elise van Nederveen Meerkerk (eds.). 6291: 6264: 6255:. In Lex Heerma van Voss; Els Hiemstra-Kuperus; Elise van Nederveen Meerkerk (eds.). 6209: 6150: 6141:. In Lex Heerma van Voss; Els Hiemstra-Kuperus; Elise van Nederveen Meerkerk (eds.). 6114: 6105:. In Lex Heerma van Voss; Els Hiemstra-Kuperus; Elise van Nederveen Meerkerk (eds.). 6079: 6054: 5996: 5926: 5845: 5783: 5740: 5707: 5673: 5571: 5490: 5479: 5465: 5443: 5413: 5394: 5350: 5222: 5192: 5109: 5087: 5064: 4949: 4924: 4846: 4748: 4717: 4685: 4612: 4575: 4509: 4042: 4014: 3448: 3437: 2325: 2178: 2158: 2113: 1520:. The Mughals minted tens of millions of coins, with purity of at least 96%, without 1497: 1478: 996:, the Indian subcontinent was the world's most productive region, from 1 AD to 1600. 939: 868:, which suggests commerce was active and prosperous for Indians by the 17th century. 711: 592: 583:

between two or more Shreni and some sources make reference to a government official (

552: 524: 293: 252: 9008: 8402: 2852:, to by the 1940s, a hundred thousand tonnes of paper was being produced, annually. 857: 14315: 14167: 13987: 13861: 13856: 13851: 13801: 13690: 13645: 13470: 13280: 13235: 13230: 13130: 13103: 12950: 12761: 12635: 12630: 12625: 12575: 12464: 12419: 12240: 12149: 11921: 11799: 11794: 11789: 11779: 11508: 11468: 11399: 11101: 10929: 10919: 10889: 10281: 9974: 9867: 9649: 9619: 9319: 8600: 8390: 8207:

The Tentacles of Progress: Technology Transfer in the Age of Imperialism, 1850–1940

8163: 7922: 7678: 7629:

The Tentacles of Progress: Technology Transfer in the Age of Imperialism, 1850–1940

7408: 7367: 7179:(1998). "Indian Society and the Establishment of British Supremacy, 1765–1818". In 7132: 7107: 7028: 6985: 6050: 5559: 4447: 4442: 4406: 4154: 4147: 4091: 4074: 4047: 3715: 3399: 2800:

established to identify and map the available resources in the territory. A modern

2417: 2394: 2109: 1898: 1552: 1062: 865: 843: 834: 798: 780: 604: 425: 297: 182: 126: 9764:

East India (statistical Abstract).: Statistical Abstract Relating to British India

8876:

Economics, Business, and the Environment — GDP: GDP per capita, current US dollars

7187:. Vol. II: The Eighteenth Century. Oxford University Press. pp. 508–29. 6584:

The Cambridge Economic History of India, II: The mid-eighteenth-century background

6534:

The Cambridge Economic History of India, II: The mid-eighteenth-century background

6328:"Small seashells tell a big story of slavery and transoceanic trade 500 years ago" 5512:"Indian GDP before 1870: Some preliminary estimates and a comparison with Britain" 5373:(First MIT Press paperback ed.). Cambridge MA: The MIT Press. pp. 26–29. 4880: 4647:"The World Economy (GDP) : Historical Statistics by Professor Angus Maddison" 1964:

was the empire's financial capital, with a population said to exceed one million.

1886: 1649:

adopted this and added more reforms. The Mughal government funded the building of

329: 300:

for most of its independent history, with extensive public ownership, regulation,

14108: 14086: 14019: 13796: 13379: 13303: 13245: 13210: 12891: 12869: 12793: 12570: 11694: 11689: 11679: 11672: 11440: 11295: 11280: 11106: 10989: 10490: 10254: 10242: 10134: 9935: 9900: 9861: 9762: 9756: 9557: 9464: 9411: 9080: 8727: 8446: 7738:

Finance and Society in 21st Century China: Chinese Culture Versus Western Markets

7603:. Ministry of Information and Broadcasting, Government of India. pp. 44–52. 7438: 7176: 5992:

Winning the Needed Change: Saving Our Planet Earth : a Global Public Service

5903: 5839: 5794: 5726: 5667: 5407: 5308: 5291: 5267: 5247: 5216: 5186: 5166: 4571: 4234: 4162: 3993: 3788: 3729: 3377: 3361: 3353: 2695: 2186: 2170: 1860: 1720: 1642: 1556: 1547:) with over 1 million by some accounts. Shireen Moosvi estimates that 36% of the 1093: 935: 912: 904: 880: 707: 663: 217: 14364: 10622: 7485:. Ministry of Information and Broadcasting, Government of India. pp. 1–19. 6185:, edited by John J. McCusker, vol. 1, Macmillan Reference US, 2006, pp. 237–40, 2832:

Factory was established at Ishapore; it began production in 1791, it is now the

15117: 14199: 14081: 13866: 13406: 13374: 13320: 13270: 13260: 13161: 12982: 12864: 12640: 11775: 11503: 11493: 11305: 11214: 11167: 11162: 11134: 11091: 11086: 11022: 10627: 10617: 10387: 10293: 9896: 9857: 9728:

Hinduism and the Ethics of Warfare in South Asia: From Antiquity to the Present

9716:

India, Modernity and the Great Divergence: Mysore and Gujarat (17th to 19th C.)

9624: 9269:

Agricultural trends in India, 1891-1947: output, availability, and productivity

8751: 8167: 7506: 7412: 7405: 7371: 7180: 6413: 6248: 6134: 6098: 5922:

India, Modernity and the Great Divergence: Mysore and Gujarat (17th to 19th C.)

5865: 4561: 4495: 4026: 3725: 3467: 3444: 3429: 3372: 3274: 3200: 2703: 2332:, with additional capital raised, at typically 10%, from Banias money lenders. 2101: 1994: 1976: 1802: 1696: 1618: 1517: 1508:, and the unification of the country. The Mughals adopted and standardized the 1316: 1149: 989: 823: 768: 746: 667: 637: 493: 481: 407: 280: 257: 213: 202: 83: 9780:

Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India

9653: 9323: 8394: 7926: 7509:(2005). "The pattern of railway development in India". In Kerr, Ian J. (ed.). 7111: 6603:

Branko, Milanovic; Peter H., Lindert; Jeffrey G., Williamson (November 2007).

6553:

Branko, Milanovic; Peter H., Lindert; Jeffrey G., Williamson (November 2007).

5563: 4985: 4905: 4033:, per-capita agricultural output and standards of consumption in 17th-century 3257:

A plan for a rail system was first advanced in 1832. The first train ran from

2373:

trade, from 1807, both eliminated a significant export market, and encouraged

1703:, per-capita agricultural output and standards of consumption in 17th-century 807: 15559: 15534: 15127: 14113: 13640: 13599: 13308: 13171: 12896: 12414: 12373: 11701: 11657: 11554: 11129: 11068: 11037: 11017: 11012: 10455: 10152: 9510: 8026: 7934: 7379: 7209: 6997: 4316: 4190: 4062: 4038: 3748: 3219: 3192: 3188: 2873: 2793: 2699: 2359: 2321: 1910: 1770: 1742: 1474: 952: 923: 892: 784: 776: 753: 737: 687: 678: 659: 532: 520: 305: 276: 221: 170: 162: 139: 135: 7400:

F. H. Brown and B. R. Tomlinson, "Tata, Jamshed Nasarwanji (1839–1904)", in

6729: