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The economy in the Indian Subcontinent performed just as it did in ancient times, though now it would face the stress of extensive regional tensions. [50] Parthasarathi estimated that 28,000 tonnes of bullion (mainly from the New World) flowed into the Indian subcontinent between 1600 and 1800, equating to 30% of the world's production in the ...
India's economy is $4.002 trillion (purchasing power parity) which accounts for a 4.5% [21] share of world income, the fourth largest in the world in terms of real GDP (PPP). [22] 2012 Second half of UPA-2 and Inflation 10%. [23] India's economy is $4.825 trillion (purchasing power parity), the third largest in the world in terms of real GDP ...
Eventually, Indian subcontinent and China accounted for more than half the size of the world economy for the next 1,500 years. In the Middle Ages, the world economy slowly expanded with the increase of population and trade. During the early period of the Middle Ages, Europe was an economic backwater.
According to Chanakya, a conducive atmosphere is necessary for the state's economy to thrive. This requires that a state's law and order be maintained. Arthashastra specifies fines and punishments to support strict enforcement of laws (the Dandaniti). Roger Boesche has called the Arthashastra "a great political book of the ancient world". [48]
The economy of the ancient Tamil country (Sangam era: 600 BCE – 300 CE) describes the ancient economy of a region in southern India that mostly covers the present-day states of Tamil Nadu and Kerala. The main economic activities were agriculture, weaving, pearl fishery, manufacturing and construction.
[12] [13] [14] The Golden Age of India came to an end when the Hunas invaded the Gupta Empire, in the 6th century CE, although this characterisation has been disputed by some other historians. [note 1] [note 2] The gross domestic product (GDP) of ancient India was estimated to be 32% and 28% of global GDP in 1 AD and 1000 AD, respectively. [17]
The ancient Persians had also tried to reduce zinc oxide in an open stove, but had failed. Zawar in Tiri valley of Rajasthan is the first known old zinc smelting site in the world. [citation needed] The distillation technique of zinc production dates back to the 12th century CE and is an important contribution of India in the world of science.
The contribution of agriculture in employing India's male workforce decreased from 75.9% in 1961 to 60% in 1999–2000. [82] Dev (2006) holds that 'there were about 45 million agricultural labor households in the country in 1999–2000.' [ 83 ] These households recorded the highest incidence of poverty in India from 1993 to 2000. [ 84 ]