This is the Economic history of the Indian subcontinent. It includes the economic timeline of the region, from the ancient era to the present, and briefly summarizes the data presented in the Economic history of India and List of regions by past GDP (PPP) articles.

Antiquity

  • 500 BC
  • Silver punch-marked coins were minted as currency belonging to a period of intensive trade activity and urban development by the Mahajanapadas.
  • 4th century AD
  • Indian subcontinent under the Gupta Empire united much of the subcontinent, contained 33.21% of the world’s population, contributed to around 33 to 35% of world's GDP, Individually generated an estimated average of $450 (1990 dollars) PPP per annum, and collectively produced $33,750 million.

Mughal era

thumb|[[List of regions by past GDP (PPP)|Maddison's estimates of global GDP, China and India being the most powerful until the 18th century. Bengal Subah was valued 50% of Mughal India's GDP.]]

  • 1500–1600
  • Indian subcontinent, mostly under the Mughal Empire (after the conquest of the Delhi Sultanate and Bengal Sultanate) became economically 10 times more powerful than the contemporary Kingdom of France, contained an estimated 24.27% of the world's population, and who individually generated an estimated average of $550 (1990 dollars) PPP per annum, and collectively produced $4,250 million, of the world's $31,344 million (4.41%).
  • 1600–1700
  • The Indian subcontinent, under Mughal Emperor's Aurangzeb becomes the world's largest economy (after the economic downfall by the transition from Ming to Qing Worth 25% of the world's industrial output, it signalled the Proto-industrialization.
  • 1700–1800
  • Large parts of the Indian subcontinent, including Bengal Subah, which accounted for 36% of Dutch imports, and Kingdom of Mysore, had some of the world's highest real wages and living standards, made direct essential contributions to the first Industrial Revolution in Britain.

Colonial period

East India Company

  • 1793
  • Cornwallis' Permanent Settlement Instituted in Bengal.
  • 1820
  • China was the world's largest economy followed by the UK and India. The Industrial Revolution in the UK catapulted the nation to the top league of Europe for the first time ever. During this period, British foreign and economic policies began treating India as an unequal partner for the first time.
  • 1850
  • The gross domestic product of India in 1850 dropped to 5–10% and was estimated at about 40 per cent that of China. British cotton exports reach 30 per cent of the Indian market by 1850.

British Raj

  • 1868
  • First estimation of India's national income by Dadabhai Naoroji.
  • 1870
  • India's economy had a 9.2% share of world income under the British Empire.
  • 1900
  • Under the British Empire, India's share of manufacturing declined to 2% of global industrial output.
  • 1996
  • Beginning of short-lived coalition govts. India's economy is $1.560 trillion (purchasing power parity) accounting for a 3.9% share of world GDP, the fifth largest in the world.
  • 2004
  • First NDA govt ends, inflation is 3.8%. India's economy is $2.870 trillion (purchasing power parity) accounting for a 4.7% share of world GDP, the fourth largest.
  • 2012
  • Second half of UPA-2 and Inflation 10%. India's economy is $4.825 trillion (purchasing power parity), the third largest in the world in terms of real GDP (PPP).
  • 2014
  • India's economy is $7.376 trillion (purchasing power parity), the third largest in the world in terms of real GDP (PPP).
  • 2017
  • NDA-2 and inflation is 3.8%.
  • 2021
  • As of 2021, India's economy is $10.207 trillion (purchasing power parity) and accounts for a 7.19% share of world GDP (PPP).

See also

  • Economy of South Asia
  • List of regions by past GDP (PPP)

References

Further reading

  • Maddison, Angus (2004). The World Economy: Historical Statistics. OECD. . (See Sample Table.)
  • World Bank, 1 July 2006. PPP GDP 2005.
  • Relation Between Inflow Of FDI and The Development Of India's Economy, IJTEMT