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Economic history of the Indian subcontinent

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This is the Economic history of the Indian subcontinent. It includes the economic timeline of the region, from the ancient era to the present, and briefly summarizes the data presented in the Economic history of India and List of regions by past GDP (PPP) articles.

Main article: Economic history of India

Antiquity

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  • 500 BC
    • Silver punch-marked coins[1] were minted as currency belonging to a period of intensive trade activity and urban development by the Mahajanapadas.[2][3]
  • 1 AD
    • Indian subcontinent under the Gupta Empire united much of the subcontinent, contained 33.21% of the world’s population and contributed to around 33 to 35% of World's GDP[3] and generated an estimated average of $450 (1990 dollars) PPP per annum.

Middle Ages

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  • 1000
    • Indian subcontinent contained an estimated 28.05% of the world's population, and contributed to around 30 to 33% of world's GDP.[4] Individually generated an estimated average of $450 (1990 dollars) PPP per annum, and collectively produced $33,750 million.[4]
  • 1500

Mughal era

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Main article: Economy of the Mughal Empire
 
Maddison's estimates of global GDP,[6] China and India being the most powerful until the 18th century. Bengal Subah was valued 50% of Mughal India's GDP.

Colonial period

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Main article: Economic history of India

East India Company

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  • 1850
    • The gross domestic product of India in 1850 dropped to 5–10% and was estimated at about 40 per cent that of China. British cotton exports reach 30 per cent of the Indian market by 1850.[17]

British Raj

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  • 1868
  • 1870
  • 1900
    • Under the British Empire, India's share of manufacturing declined to 2% of global industrial output.[12]
  • 1913
    • India's economy had a 5.4% share of world income under the British Empire.[18]
  • 1930
    • Indian subcontinent contained an estimated 336.4 of the world's 2,070 million people (16.25%), and who individually generated an estimated average of $726 (1990 dollars) per annum, and collectively produced $244,097 million, of the world's $3,800,000 million (6.42%)
  • 1943

Post-Independence period

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Main articles: Economy of India, Economy of Pakistan, and Economy of Bangladesh

Just after Independence

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  • 1952
    • India's economy had a 3.8% share of world income.[18]
  • 1973
    • India's economy was $494.8 billion, which accounted for a 3.1% share of world income.[18]

1980–1991

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Economically closed.

1991–present

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See also

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References

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  1. ^ Nupam Mahajan and R. Balasubramaniam, "Scanning electron microscopy study of an ancient silver punch-marked coin with central pentagonal mark", Numismatic Digest v. 22.
  2. ^ "Ancient Indian Coinage" Archived 2017-03-22 at the Wayback Machine, RBI Monetary Museum rbi.org
  3. ^ a b The World Economy: Historical Statistics, Angus Maddison
  4. ^ a b Angus Maddison (2001). The World Economy: A Millennial Perspective, OECD, Paris
  5. ^ a b Angus Maddison (2003). The World Economy: Historical Statistics, OECD, Paris
  6. ^ Maddison 2007, Table A.7
  7. ^ Lawrence E. Harrison, Peter L. Berger (2006). Developing cultures: case studies. Routledge. p. 158. ISBN 9780415952798.
  8. ^ Bowen, H. V. Business of Empire: The East India Company and Imperial Britain, 1756–1833 (2006), 304pp
  9. ^ a b Mao Peiqi (2006). The Seventeen Emperors of the Ming Dynasty. 光明日报出版社. ISBN 978-7-80206-237-5.
  10. ^ a b Parthasarathi, Prasannan (2011), Why Europe Grew Rich and Asia Did Not: Global Economic Divergence, 1600–1850, Cambridge University Press, p. 2, ISBN 978-1-139-49889-0
  11. ^ József Böröcz (2009-09-10). The European Union and Global Social Change. Routledge. p. 21. ISBN 9781135255800. Retrieved 26 June 2017.
  12. ^ a b Jeffrey G. Williamson, David Clingingsmith (August 2005). "India's Deindustrialization in the 18th and 19th Centuries" (PDF). Harvard University. Retrieved 2017-05-18.
  13. ^ Kumar, Dharma and Meghnad Desai, eds. The Cambridge Economic History of India: Volume 2, c.1751-c.1970 (1983).
  14. ^ Om Prakash, "Empire, Mughal", History of World Trade Since 1450, edited by John J. McCusker, vol. 1, Macmillan Reference USA, 2006, pp. 237–240, World History in Context. Retrieved 3 August 2017
  15. ^ Yazdani, Kaveh (10 January 2017). India, Modernity and the Great Divergence: Mysore and Gujarat (17th to 19th C.). BRILL. ISBN 978-90-04-33079-5.
  16. ^ Broadberry, Stephen; Bishnupriya Gupta (23–25 June 2005). "COTTON TEXTILES AND THE GREAT DIVERGENCE: LANCASHIRE, INDIA AND SHIFTING COMPETITIVE ADVANTAGE, 1600–1850" (PDF). Proc The Rise, Organization, and Institutional Framework of Factor Markets. Utrecht.
  17. ^ "Historical Prices and Wages Dataset" (PDF). www.iisg.nl. Retrieved 2024-08-12.
  18. ^ a b c d Maddison, Angus (12 Jun 2001). The World Economy A Millennial Perspective. OECD Publishing. ISBN 9789264186545.
  19. ^ "Timeline: India". BBC News. 2011-02-22. Retrieved 2011-03-06.
  20. ^ a b c "World Economic Outlook Database April 2017". www.imf.org. Retrieved 2018-04-01.
  21. ^ a b "GDP, PPP (current international $) | Data". data.worldbank.org. Retrieved 2018-04-01.
  22. ^ "The Indian Economy In The Next Decade". Forbes.com. Retrieved 2011-03-06.
  23. ^ a b "India and the IMF". IMF. Retrieved 2018-04-01.
  24. ^ "Report for Selected Countries and Subjects". Retrieved 2013-01-24.
  25. ^ "Report for Selected Countries and Subjects". www.imf.org. Retrieved 2018-04-01.
  26. ^ "International Monetary Fund". 1 April 2021.
  27. ^ "India: Share of global gross domestic product (GDP) adjusted for Purchasing Power Parity (PPP) from 2016 to 2026". 1 April 2021.

Further reading

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