Some Indians always think that are we poor compare to other nations? Answer is yes, when we compare our self on the basis of per capita income or on the basis of living standard. Then we begin to think were we poor or were in class of €developing economy or so called third world economy€? Answer is absolutely not. Lot of person would be surprised after knowing this truth because quite few persons would have idea about what we were some centuries ago.
The known and written Economic activity of India begins with the Indus valley civilization. The Indus civilization's economy appears to have depended not only on the agriculture but also on trade, which was facilitated by advances in transport and road system. The period was marked by intensive trade activity and urban development. The Maurya Empire united most of the India. The political unity and military security allowed for a common economic system and enhanced trade and commerce, with increased agricultural productivity. For the next 1500 years, India produced its very advanced and developed economy. At this period of time it is believed that India's share in global economy was approximately about 40%.After that during the period of Mauryan dynasty China began to expand its economic muscle.
After that period India is estimated to have had the largest economy of the ancient and medieval world between the 1st and 17th centuries AD, controlling between one third and one fourth of the world's wealth asset.
Years 1000AD 1500 AD 1600 AD 1700 AD
Countries India 33,750 60,500 74,250 90,750
China 26,550 61,800 96,000 82,800
West Europe 10,165 44,345 65,955 83,395
World Total 116,790 247,116 329,417 371,369 { GDP in millions of 1990 International Dollars}
So according to the shown figure above, estimated India's wealth relative to world GDP for the years 1000
AD, 1500 AD, 1600 AD, and 1700 AD. India's share of world GDP was slightly more than a quarter in the
Year 1000 AD and slightly less than a quarter between 1500 AD and 1700 AD.
According to Angus Madison, who is one of the most respected historians who studied world economy till 1500 AD, in his book The World Economy: A Millennial Perspective, very clearly wrote that India was the richest country in the world and had the world's largest economy during 1 AD and 1000 AD. After that for some period of time till 1500 AD when China was the dominant economy in the world, India held the second position of the largest economy. And soon after that India regain its favorite position of no. one.
So we can very clearly see that India was never been poor or €poverty never existed here till the Mugal or British came here. Till then we were richest and had major role in world economy..So there would not be any surprise when India will regain its favorite place that is biggest and most advance economy of the world. to get that target we will have to work hard till we are not getting the goal.
The known and written Economic activity of India begins with the Indus valley civilization. The Indus civilization's economy appears to have depended not only on the agriculture but also on trade, which was facilitated by advances in transport and road system. The period was marked by intensive trade activity and urban development. The Maurya Empire united most of the India. The political unity and military security allowed for a common economic system and enhanced trade and commerce, with increased agricultural productivity. For the next 1500 years, India produced its very advanced and developed economy. At this period of time it is believed that India's share in global economy was approximately about 40%.After that during the period of Mauryan dynasty China began to expand its economic muscle.
After that period India is estimated to have had the largest economy of the ancient and medieval world between the 1st and 17th centuries AD, controlling between one third and one fourth of the world's wealth asset.
Years 1000AD 1500 AD 1600 AD 1700 AD
Countries India 33,750 60,500 74,250 90,750
China 26,550 61,800 96,000 82,800
West Europe 10,165 44,345 65,955 83,395
World Total 116,790 247,116 329,417 371,369 { GDP in millions of 1990 International Dollars}
So according to the shown figure above, estimated India's wealth relative to world GDP for the years 1000
AD, 1500 AD, 1600 AD, and 1700 AD. India's share of world GDP was slightly more than a quarter in the
Year 1000 AD and slightly less than a quarter between 1500 AD and 1700 AD.
According to Angus Madison, who is one of the most respected historians who studied world economy till 1500 AD, in his book The World Economy: A Millennial Perspective, very clearly wrote that India was the richest country in the world and had the world's largest economy during 1 AD and 1000 AD. After that for some period of time till 1500 AD when China was the dominant economy in the world, India held the second position of the largest economy. And soon after that India regain its favorite position of no. one.
So we can very clearly see that India was never been poor or €poverty never existed here till the Mugal or British came here. Till then we were richest and had major role in world economy..So there would not be any surprise when India will regain its favorite place that is biggest and most advance economy of the world. to get that target we will have to work hard till we are not getting the goal.