Economic_history_of_India | TriviaQuestions.online

⭐ In the context of Classical India, the Economic history of India is considered to have been a dominant force globally for a substantial period. Approximately what share of the world’s wealth did India possess during this era?

Historical estimates suggest that from 1 CE to 1000 CE, India’s economy represented a significant portion of the global economy, controlling between one-third and one-quarter of the world’s wealth.

⭐ Core Definition: Economic history of India

Indus Valley Civilisation, the early civilisation of India and Pakistan, developed the economy of agriculture and craft which later spread into central India. Angus Maddison estimates that from 1-1000 AD, the regions making up the present-day India contributed roughly 30% of the world's population and GDP.

India experienced per-capita GDP growth in the high medieval era, coinciding with the Delhi Sultanate. By the late 17th century, most of the Indian subcontinent had been united under the Mughal Emperor Aurangzeb, 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.

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👉 Economic history of India in the context of Classical India

The Middle Kingdoms of India were the political entities that existed on the Indian subcontinent from 230 BCE to 1206 CE. The period began with the decline of the Maurya Empire and the corresponding rise of the Satavahana dynasty, initiated by Simuka in the 1st century BCE. The “middle” period lasted for over 1,200 years and concluded in 1206 CE with the establishment of the Delhi Sultanate and the gradual decline of the Later Cholas, the last of whom, Rajendra Chola III, died in 1279 CE.

This period encompasses two eras: Classical India, from the Maurya Empire up until the end of the Gupta Empire in 500 CE, and early Medieval India from 500 CE onwards. It also encompasses the era of classical Hinduism, which is dated from 200 BCE to 1100 CE. From 1 CE until 1000 CE, India's economy is estimated to have been the largest in the world, having between one-third and one-quarter of the world's wealth. This period was followed by the late Medieval period in the 13th century.

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