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Presented

Presented By:
By:
Tanjot
Tanjot Kaur
Kaur
Tanu
Tanu Khosla
Khosla
Priyanka
Priyanka
Shivam
Shivam Kapoor
Kapoor

Introduction

GOD
(Generates - Observes - Destroys)
Generates

Brahma
Observes - Vishnu
Destroys - Shiva

Economic History of India


The known Economic history of India begins with the
Indus Valley civilization.
During the Mughal period (15261858) in the 16th century, the
gross domestic product of India was estimated at about 25.1% of
the world economy.

Economic historians in the 21st century have found that in the


18th century real wages were falling in India, and were "far below
European levels.

After gaining the right to collect revenue in Bengal in 1765, the


East India Company largely ceased importing gold and silver, which it had
hitherto used to pay for goods shipped back to Britain.[20] In addition, as
under Mughal rule, land revenue collected in the Bengal Presidency helped
finance the Company's wars in other part of India.[20] Consequently, in the
period 17601800, Bengal's money supply was greatly diminished
-The British colonial rule created an institutional environment that
stabilized law and order to a large extent.
-. The British foreign policies however stifled the trade with rest of
the world. They created a well-developed system of railways, telegraphs
and a modern legal system.

The Pre Colonial Period(500BC-1700 )


500

BC

Silver punch-marked coins were minted as currency belonging to a period of

intensive trade activity and urban development by the Mahajanapadas.


1

AD

India's economy had a 52.9% share of world income, the largest in the world.
1000

India's economy had a 33% share of world income, the largest in the world.
1500

India's economy had a 24.5% share of world income, the second largest in the

world after China, which had a 25% share.


1700

India's economy had a 24.4% share of world income, the largest in the world.

The Colonial Period(1700 - 1947)

British East India Company whose political power gradually expanded


in India from 1757 onwards, used huge revenue generated by the
provinces under its rule for purchasing. Indian raw materials, spices
and goods.
In short span of 80 years (1780-1860 AD) under Colonial rule, India
changed from being an exporter of processed goods for which it
received payment in billion, to being an exporter of raw materials and
a buyer of manufactured goods.
The ruthless exploitation under British colonial rule completely
devastated Indias economy
As per British economist, Angus Maddison India's share of the world
income went from 27% in 1700 AD (compared to Europe's share of
23%) to 3% in 1950.

The Post Colonial Period(1947-2015)

Nehruvian era
1952
India's economy had a 3.8% share of world income.
1973
India's economy was $494.8 billion, which accounted for a 3.1% share of world income.
19801991
Economically closed.
1991present
1991
Economic liberalisation was initiated by Indian prime minister P. V. Narasimha Rao and
his finance minister Manmohan Singh in response to a macroeconomic crisis.
2010
India's economy is $4.002 trillion (purchasing power parity) which accounts for a 6.3%
share of world income, the fourth largest in the world in terms of real GDP.
2012
India's economy is $4.825 trillion (purchasing power parity), the third largest in the
world in terms of real GDP.

Facts about India


5000

years of old civilization


325 languages spoken-1652 dialects
18 official languages
29 states, 5 union territories
3.8 million sq. kilometers- Area
7516 kilometers- coastline
1.2 billion people in 2015

Parlimentary

form of government
Secular democratic constitution
Worlds largest democracy since 55 years
4th largest economy
Fastest growing IT power

About Current Economy


7th

largest in the world by-nominal GDP


GDP growth rate 4.10%, GDP annual
growth rate 7.50%
1.87 trillion USD in 2015
Third largest by PPP(Purchasing Power
Parity)
One of the member of BRICS
Developing economy 7% average growth
rate since last 2 decades

Sectors:
Agriculture
Industry

Agriculture Sector
Agriculture

is an important part of Indian


economy according to New-York times article
in 2008, claimed with the right technology
and policy India could contribute to feeding
not just itself but the world however
agriculture out of India lags far behind
because of several factors such as
governmental intervention in labour land and
credit markets, rural roads , food storage
etc. are inadequate.

Industrial Sector
Industry accounts for 26% of GDP and employs 22% of the total
workforce. According to the World Bank, India's industrial
manufacturing GDP output in 2012 was 10th largest in the world
on current US dollar basis ($239.5 billion), and 9th largest on
inflation adjusted constant 2005 US dollar basis ($197.1 billion).

Petroleum products and chemicals


Pharmaceuticals
Engineering
Gems and jewellery
Textile
Mining