Economic history of India “Ancient to Present day”
India economic history spans nearly 5,000 years and dates back to Indus valley civilization which flourished around 2500.B.C.May abject discovered from the archaeological sites of Mohenjo-Daro and Harappa bear testimony that they were big industrial centers having trade relations with central, west and south India, WestAsia and other parts of the world. from the Vedic-literature we, get a detailed description of the economic condition of early Aryans who were quite familiar with cultivation of crops, as well as indulged in various manufacturing activities besides doing commerce with Babylone, Sumeria and some other countries from the Buddhistliterature, particularlyjatakas and tripitak we get a Vendant information regarding the economic condition of India from 650 to 321B.C.kautilaya‘s (Arthastra), Megasthenes (indicia) And Vishakhadatta’s (Mudrararshasa) in detail the economic system of the Mauryan Perios.the economic life of people during the Mughal period was satisfactory. TheBritish came to India as traders but succeeded in carving out their empire in the country. The British economic policies increased agriculturalindebtedness, undermined village and cottage industries and gave rise to a capitalist class in India with the growth of new urban Centres.When India achieved independence in 1947, the economic was in shambles. The planning commission was established in 1950 to prepare the blueprint for development, taking an overall view of the needs and available resources of the country.