The economy in the Indian Subcontinent during the Mughal Empire era performed just as it did in ancient times, though now it would face the stress of extensive regional tensions.[1] It was described as large and prosperous.[2] India producing about 28% of the world's industrial output up until the 18th century.[3][4] While at the start of 17th century, the economic expansion within Mughal territories become the largest and surpassed Qing dynasty and Europe, where from Bengal Subah alone, the province statistically has contributed to 12% of Gross domestic product.[5] by 1700s, Mughals had approximately 24 percent share of world's economy.[4] They grew from 22.7% in 1600, which at the end of 16th century, has surpassed China to become the world's largest GDP.[6][7]
Mughal India's economy has been described as a form of proto-industrialization, like that of 18th-century Western Europe prior to the Industrial Revolution.[8] Many historians have built on the perspective of R. C. Dutt who wrote, "The plunder of Bengal directly contributed to the Industrial Revolution in Britain."[9][10][11][12]
The Mughals also responsible for building an extensive road system, creating a uniform currency, and the unification of the country.[13]: 185–204 The empire had an extensive road network, which was vital to the economic infrastructure, built by a public works department set up by the Mughals which designed, constructed and maintained roads linking towns and cities across the empire, making trade easier to conduct.[2]
The main base of the empire's collective wealth was agricultural taxes, instituted by the third Mughal emperor, Akbar.[14][15] These taxes, which amounted to well over half the output of a peasant cultivator,[16] were paid in the well-regulated silver currency,[17] and caused peasants and artisans to enter larger markets.[18]
^Schmidt, Karl J. (2015). An Atlas and Survey of South Asian History. Routledge. ISBN 978-1-317-47681-8.
^ abSchmidt, Karl J. (2015). An Atlas and Survey of South Asian History. Routledge. pp. 100–. ISBN 978-1-317-47681-8.
^Jeffrey G. Williamson & David Clingingsmith, India's Deindustrialization in the 18th and 19th Centuries Archived 29 March 2017 at the Wayback Machine, Global Economic History Network, London School of Economics
^ abMaddison, Angus (25 September 2003). Development Centre Studies The World Economy Historical Statistics: Historical Statistics. OECD Publishing. pp. 256–259. ISBN 978-92-64-10414-3.
^Pawan Singh (8 February 2022). Bangladesh And Pakistan Flirting With Failure In South Asia(ebook). Gaurav Book Centre Pvt. Limited. p. 12. ISBN 9789387657014. Retrieved 3 December 2023.
^Maddison, Angus (2006). The World Economy Volumes 1–2. Development Center of the Organisation for Economic Co-operation and Development. p. 639. doi:10.1787/456125276116. ISBN 9264022619.
^Matthews, Chris (5 October 2014). "The 5 most dominant economic empires of all time". Fortune. Retrieved 18 August 2016.
^Cite error: The named reference voss was invoked but never defined (see the help page).
^Junie T. Tong (2016). Finance and Society in 21st Century China: Chinese Culture Versus Western Markets. CRC Press. p. 151. ISBN 978-1-317-13522-7.
^John L. Esposito, ed. (2004). The Islamic World: Past and Present. Vol. 1. Oxford University Press. p. 174. ISBN 978-0-19-516520-3.
^Indrajit Ray (2011). Bengal Industries and the British Industrial Revolution (1757-1857). Routledge. pp. 7–10. ISBN 978-1-136-82552-1.
^Shombit Sengupta (8 February 2010). "Bengal's plunder gifted the British Industrial Revolution". The Financial Express.
^Richards, John F. (1995). The Mughal Empire. Cambridge University Press. ISBN 978-0-521-56603-2.
^Stein, Burton (2010). A History of India. John Wiley & Sons. pp. 164–. ISBN 978-1-4443-2351-1. Quote: "The resource base of Akbar’s new order was land revenue"
^Asher, Catherine B.; Talbot, Cynthia (2006). India Before Europe. Cambridge University Press. pp. 158–. ISBN 978-0-521-80904-7. Quote: "The Mughal empire was based in the interior of a large land-mass and derived the vast majority of its revenues from agriculture."
^Stein, Burton (2010), A History of India, John Wiley & Sons, pp. 164–, ISBN 978-1-4443-2351-1 Quote: "... well over half of the output from the fields in his realm, after the costs of production had been met, is estimated to have been taken from the peasant producers by way of official taxes and unofficial exactions. Moreover, payments were exacted in money, and this required a well regulated silver currency."
^Asher, Catherine B.; Talbot, Cynthia (2006), India Before Europe, Cambridge University Press, pp. 152–, ISBN 978-0-521-80904-7
^Asher, Catherine B.; Talbot, Cynthia (2006), India Before Europe, Cambridge University Press, pp. 152–, ISBN 978-0-521-80904-7 Quote: "His stipulation that land taxes be paid in cash forced peasants into market networks, where they could obtain the necessary money, while the standardization of imperial currency made the exchange of goods for money easier."
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