Medieval Indian Economic History

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India has followed central planning for most of its independent history, which have included extensive public ownership, regulation, red tape and trade barriers. After the 1991 economic crisis, the central govt. launched economic liberalization. India has turned towards a more capitalist system and has emerged as one of the fastest growing large economies of the world.

During the Mughal period (1526-1758) India changed between being the first and second largest economy in the world. The gross domestic product India in the 16 century was estimated at about 25.1% of the world economy. Mughal Empire had expanded to include almost 90% of South Asia & enforced a uniform custom & tax administration system. In 1700 the exchanges of the Emperor Aurangzab reported an annual revenue of more than F100 million (pounds).

The economic activities of the Mughal Empire derived from the basis urges which created & sustained it as well as the structure of polity derived from their fulfillment.

The Mughals rendered possible a very substantial expansion of an integrated market. In course of time, the trade contributed loan undoubted increase in the absolute volume of India's exports & imports, stimulated Indian participation in overseas commence & induced some positive development in the manufacturing section of the economy & affected the fortunes of the Indian merchants in different ways by the patterns of competition & celebration with the trades of our abroad.

This book is a valuable resource for teachers, students & people everywhere who are inquisitive about Mughal Economy as it gives a comprehensive interpretation to the aforesaid facts of the economic history of Mughal India, the focus here is on the internal trade, foreign trade, transport and communication, seaports & shipping, commercial items & in the focus which affected the course of economic life in the greater part of one territory. I hope this book will help you share the immense knowledge of the great Mughal empire and its economic achievements.

Dr. Geeta Ojha, pursued her Masters from Ranchi University followed by a Ph.D in 1991. Her Doctoral Thesis is on the topic, "Inland and Foreign Trade of India during Mughal Age". Her area of interest is Economic History of India and she has already edited two books on Modern and Ancient Indian Economic History.

She has been into teaching for past 30 years & is an Associate Professor in P.G. Department of History, Ranchi University, Ranchi since 1989 and is engaged in extensive research activities and writing on historical topics to reputed research journals. Her wisdom of grace of a profound scholar encourages her to penetrate into the field of economic history of Medieval India. Dr. Geeta Ojha has made every effort to be as unbiased and objective as possible in presenting the facts & interpreting the events. If you feel that a particular area needs attention do not hesitate to send in any information on or opinion that you may have.

The study of history develops the ability to understand the flow of our society. R.G Collingwood states "history teaches what man has done, and therefore what man is." In this book the economic history of India' covers the period from the beginning from 1526-1707 A.D. There has been a rapid growth of scholarly interest in the economic history of Indian system since the ancient times. This book is an attempt to portray the salient features of Indian Economic conditions during the hay day of Great Mughal Sovereigns of India. This book attempts to provide a broad interpretative overview of the economic developments of the period from the sixteenth to seventeenth century, but it makes no claim to be comprehensive. It analyses the main trends of internal and external trade, transport and communication, seaports and shipping, commercial items and manifold aspects which affected the course of economic life in the greater part of the territory of Indian society during the sixteenth and seventeenth centuries.

This book is divides into Seven chapters. This book is of immense use for the students of advanced studies of Mughal history as well as for the general readers and scholars interested in knowing the nature and causes of economic development of the life of the teeming millions in this country some three centuries back.

In researching this book over several months I have been greatly assisted by invaluable advice and suggestions from my father in law(Late) Dr. P.N. Ojha, former University Professor and Head, P.G. Department History & Director, Higher Education Govt. Of Bihar, (Late) Dr. Indu Dhan, Ex; V.C; and Dr. D.N Ojha, my husband, Director, Higher Education, Govt. Of Jharkhand. I am deeply thankful to the publisher Ayushman Publications House, New Delhi for the readiness to publish this book quickly and with accuracy. I am fully conscious of some errors and shortcomings in this book which I propose to remove in the next edition of this book.

The valley of the Indus was the country of Hindustan, presenting a happy contrast to the dull and dreary plains of central Asia. The Land was abundant and fertile and main occupation of the people were agriculture. For the purpose of present survey, India would roughly mean the area bet wean the Himalayas in the North and the Indian ocean in the south and from Afghanistan and Bal unchristian in the west to chittagong and Arakan in the east but excluding Assam, politically this included the mughal Empire, parts of Vijayanagar and the Deccan sultanates with their shifting boundaries. The Empire included directly administered area as well as regions of those known variously as Zamindars or bumis, ranas, rajas, etc.2 India has primarily been an agricultural country with land as the chief source of production. The natural fertility of the soil, copious rainfall and irrigation facilities led to enormous production of com and contributed to the wealth of the country. In fact the Muslims were tempted to invade India due to fabulous wealth.

Mahmud of ghazni organized a number of raids in succession on the various temples and carried along enormous booty with him.