[www.keralites.net] Two Millennia of India’s Economic Journey: 1st Century to 2000 AD

 

Two Millennia of India's Economic Journey: 1st Century to 2000 AD

India is a poor country today. But was it always like that? If you look at the GDP figures (courtesy: Wikipedia) of India vs the rest of the world – the journey is extremely interesting. For most part of the two millenia, India and China simply ruled the world.

Until 1000 AD India was clearly well and truly the richest country. The share of the World's GDP was around 30% for the first millenia. Then by 1500 AD the Islamic rulers had started making their raids from North, and the Hindu Kings had started becoming weak. From a country where spirituality and rule of law was paramount, India, suddenly was losing in its own web.

Then by 1600 AD, the Mughals were ruling India, and it went down further. The roles of China and India in the world's economic dominance were now truly reversed. In 1000 AD, the shares wereIndia – 28.90/China – 22.70; and in 1600 the shares had changed to India – 22.60/China – 29.20. Whereas the Ming dynasty had done wonders for China, Mughals had brought it down. It was the rule of Akbar and then Jahangir and Shahjahan, that India regained its numero uno position back, probably also helped by the Qing dynasty in China.

A country that was at the peak of science and technology edge was in 600-700 years of rule of Islam and self-serving Hindu rulers, had been slowly but gradually lost the urge to succeed and grow. This period – the Mughal period – is, in my personal view, the one time that broke the back of progressiveness in the Indian (Hindu) ethos – culturally and scientifically. We were to pay for such lack of urgency.

We had many invaders but none made India as poor as the British. They systematically took the wealth of the country out and replaced it with total dependence! All that was done in the name of "free-trade"… where the work was moved to a place where it was done best. So, our raw material was taken out and we got expensive finished goods back. We paid for lack of preparation..

http://www.drishtikone.com/two-millennia-indias-economic-journey-1st-century-2000-ad/ 

Ravi

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