India’s Glorious Past
GOVERNMENT, SOCIETY & BUSINESS
A Paper on
“India’s Glorious Past”
Submitted by,
Dhanya Ann Roy
F13025
Section A
ECONOMIC HISTORY OF INDIA
The known Indian Economy starts with the Indus Valley Civilization also known as the “Harappan Civilization”. It is estimated by experts that the society existed between 3300 and 1700 BC. The people of Indus Valley rather made deals instead of war and began with the domestication of animals and developed multi-dimensional economy involving, rich and extensive agriculture and internal and external trade. They also developed foreign trade through which they brought silver from Afghanistan or Iran; lapis-lazuli from Badakhshan; turquoise from Iran; and jade from Central Asia.
Around 600 BC, history marks the second urbanization during the time of the Mahajanapadas which were large territorial states. It shows the beginning of the NBPQ phase which stands for Northern Black Polished Ware. All the important cities of the period were situated on the river banks allowing trade routes to connect with each other. Trade was facilitated by the use of money – punch-marked silver coins with certain marks such as hill, tree, elephant, hull etc.
Similarly, by 300 BC, the reign of the Mauryan Empire over a large area of the Indian subcontinent proved all round economic development. The government encouraged commercial and industrial activity and stimulated its expansion. Agriculture was the mainstay. Megasthenes testifies to the existence of road systems and to the operation of waterways under government supervision. Trade by barter and against the currency was in practice and was taxed all along its way. There was progress in crafts and industrials arts.
India saw the opening of the Silk Route (1st century BC). The Silk Route was a complex network of trade routes with the Mediterranean World and Central Asia that gave people the chance to exchange goods and culture. In the next 1500 years, India produces its
A Paper on
“India’s Glorious Past”
Submitted by,
Dhanya Ann Roy
F13025
Section A
ECONOMIC HISTORY OF INDIA
The known Indian Economy starts with the Indus Valley Civilization also known as the “Harappan Civilization”. It is estimated by experts that the society existed between 3300 and 1700 BC. The people of Indus Valley rather made deals instead of war and began with the domestication of animals and developed multi-dimensional economy involving, rich and extensive agriculture and internal and external trade. They also developed foreign trade through which they brought silver from Afghanistan or Iran; lapis-lazuli from Badakhshan; turquoise from Iran; and jade from Central Asia.
Around 600 BC, history marks the second urbanization during the time of the Mahajanapadas which were large territorial states. It shows the beginning of the NBPQ phase which stands for Northern Black Polished Ware. All the important cities of the period were situated on the river banks allowing trade routes to connect with each other. Trade was facilitated by the use of money – punch-marked silver coins with certain marks such as hill, tree, elephant, hull etc.
Similarly, by 300 BC, the reign of the Mauryan Empire over a large area of the Indian subcontinent proved all round economic development. The government encouraged commercial and industrial activity and stimulated its expansion. Agriculture was the mainstay. Megasthenes testifies to the existence of road systems and to the operation of waterways under government supervision. Trade by barter and against the currency was in practice and was taxed all along its way. There was progress in crafts and industrials arts.
India saw the opening of the Silk Route (1st century BC). The Silk Route was a complex network of trade routes with the Mediterranean World and Central Asia that gave people the chance to exchange goods and culture. In the next 1500 years, India produces its