The Economic History Of Ancient India

The early civilizations of China and India emerged prior to 600 CE in what is known today as the continent of Asia. With the Himalayan mountains in between them, these civilizations developed in isolation from one another, and yet still managed to produce kingdoms with continuous growing populations to this day. Individual growth and development amongst the people stimulated technological inventions, increased the chances of survival and lead to: greater agricultural production, strong armies, and expansion. Eventually, these commodities and other luxury items produced will be traded, spurring the economic growth of both civilizations. Overall, these early stages of development not only furthered contact amongst these two great empires allowing for cultural diffusion, but also set the foundation for future generations to follow. Although China and India’s growing empires took place in different parts of the world, the structure of their economies developed similarly, beginning with an agricultural infrastructure and progressing towards trade within and beyond the kingdoms, while also acquiring distinctive cultural differences overtime such as a social hierarchy defined by certain beliefs. These characteristics will define the beginning and the advancement of early economic systems used during the Foundations Era and Classical Age, and provides insight on the essentials that influenced the two economic

So many of the people at that time would travel two the Middle East, East Africa and in Southeast Asia through the use of monsoons which would happen frequently in the Indian subcontinent. The vast subcontinent begins to see the emergence of different states and as we also begin to see the emergence of different religions such as Brahmin Jainism and Hinduism. In the Indus River Valley we begin to see that the city-state's are being formed into kingdoms and Empires. For example the kingdom of Magadha was one of the main reasons why Mauryan Empire was established is because Chandragupta maurya took control from the kingdom of Magadha. The Indus Valley Civilization end many of those who settled on the subcontinent of India flourished because climate and resources any world large populations of humans to be able to live on the subcontinent. All in all the Southeast Asian kingdoms of the Indian subcontinent were able to flourish because the land provided them with the right resources to be able to live and religions and cultural influences were synthesized and as a result the diversity of religion and culture were across the

Economic relationships between classical China and India were similar and almost seemed to rely on one another. India was considered “the center of trade”. Most trade routes were all passing through and dependent on India. Indian emphasis on trade and merchant activity was far more than in China, and also greater in the classical Mediterranean world. During the Maurya rule, India expanded their trade between the main centers of civilization Eurasia and Africa. Some products produced at one end of the system, such as Chinese silks and porcelains, were carried the whole length of the trading networks to be sold at the other end of the routes, in Rome. As a result, China and India both had to work together and figure out a way to make sure and help each other because both civilizations depended on each other for different things.

"The Trading World of Asia and the English East India Company, 1660-1760." EHnet. Web. 08 Mar. 2015.

Changes and continuities in commerce in the Indian ocean region from 650 to 1750 C.E.

Middle Eastern gold and silver purchased pepper, textiles, and gemstones in India. Merchants from the Arab Empire established communities from East Africa to the China coast. Opportunities for trade led to the production of sugar and dates in Mesopotamia and stimulated a slave trade from East Africa to provide labor for the growing and refining of these products. Widespread conversion to Islam among traders in the Indian Ocean underpinned an international maritime culture and also helped to facilitate commercial transactions.

| * India kept guilds throughout the entire period * always encouraged trade and economic growth * was economically the other half of agriculture

What if you could live in a golden empire? That was exactly what the Gupta Empire was for India, their “Golden Age.” That was because of their daily life, Chandra Gupta II, and achievements in academics.

Before its modern state, India had only been united once. This time was under the rule of the Mauryan Empire in the 300s-200s BCE. The Mauryan Empire was started by Chandragupta Maurya after overthrowing and conquering the Magadha government. He proceeded to conquer more than half of the Indian subcontinent. After some time, Chandragupta’s grandson Asoka came to power. Asoka was a leader who ruled with feelings of remorse for decisions he had made in the past yet still ruled with great, imposing power. He also was mindful of his people and made sure to always rule in favor of them.

During the post-classical era, larger ships and improved commercial organization supported a dramatic sure in the volume and value of trade in the indian ocean basin

In ancient India and China a social system was developed to separate the society into levels. This social system is called a caste system. Which caste level you belong to was determined by your occupation and family origin. If you were born the son of a king your life was grand. But, if you were born to a farmer you are a farmer for life. Your birth determines where you fall in the caste system, and you live according to the rules. Both ancient India and China had the caste system. Ancient India and China had similarities and differences in the caste system.

As a simple definition, The East India Company originally began as a private company with which Queen Elizabeth I granted a trade monopoly with the East Indies. This company soon grew to be a company like no other and became almost sovereign in its powers. Due to the greatness of this Company, it had many opposers- the most well known, not to mention the most outspoken, of these being Adam Smith. He opposed the East India Company’s practice of mercantilism as he believed that it took away many of the liberties of man and only benefited the select group of people who were in the upper classes of society. Adam Smith believed strongly in the idea of “Laissez Faire” economics- in other words he believed that the government should simply leave free enterprise to shift for itself. To Smith, the East India Company represented everything that he was against. The government granted this Company a monopoly and other economic privileges that caused a great interference to the natural course of the free market system. In addition, the Company showed continuously that its interests were not for the good of the people, but for the wealth of the Company. Unsurprisingly, Smith was was not alone in his dislike of the Company, as a matter of fact, the society in which he lived shared much of his animosity for the East India Company. Many in this society shared the belief that the Company’s monopoly and corrupt economic privileges were harming the economy and depriving workers of their

The invasions, and attempted conquest of Alexander caused dislocations in the northwest, which aided Chandragupta Maurya to build his empire in northern India by allowing Chandragupta to pursue a long drawn out strategy of acquiring the least contented and most vulnerable of the Nandas’ client states while accurately encircling and conclusively dominating Magadba. Chandragupta’s grandson Ashoka managed to govern his large and diverse empire by possibly stealing the crown from his father; his grandfather resigned to join an ascetic religious order, the Jains. Ashoka’s military troops drove the Mauryan Empire further

All of the societies had an economic boom, and general prosperity. Athens had Pericles, India had Ashoka Mauryan, and China had Liu Bang and later Han Wudi. Pericles had supported many building programs, thus creating jobs for thousands, leading to Athens to become the most highly classed of the poleis. Ashoka Maurya conquered several territories, but the most notable for its economic impact is Kalinga.

The history of the nation of India is a long and interesting one but most westernizes lack any true understanding of it. Like any long standing culture there have been good and bad periods in their history but one period has been identified as the "Golden Age of India (Dehejia, 1993)." This period, which lasted over a hundred years (322 BCE 185 BCE), began when an exiled general by the name of Chandragupta Maurya overthrew the reigning king Dhana Nanda. Once Chandragupta Maurya had established his new government in the Eastern area of India he began expanding his power westward across Central and Western India and, in the process, the religions of Hinduism and Buddhism also began to spread throughout India (Avari, 2007).