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The factories manufactured textiles from Indian cotton and sold them back to the Indian market. British economic policies gave them a monopoly over India's large market and cotton resources. [7] [8] India served as both a significant supplier of raw goods to British manufacturers and a large captive market for British manufactured goods. [9]
Daniel Thorner (1915–1974) was an American-born economist known for his work on agricultural economics and Indian economic history. [1] [2] He is known for the application of historical and contemporary economic analysis on policy and influenced agricultural policy in India in the 1950s through his association with the Planning Commission.
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Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.
He is mainly famous for his set of private diaries from the years 1736 to 1761 which portray life in 18th century India. [1] He is also remembered for developing the Tiruvengadam courtage strategy, a new method of courtage in India [citation needed] that is popularly described in several Indian economic books.
Economic effects of irrigation: report of a survey of the direct and indirect benefits of the Godavari and Pravara canals. Gokhale Institute of Politics and Economics. p. 183. D. R. Gadgil (1979). Planning and economic policy in India. Sangam Books. p. 426. ISBN 978-0861253838. Sulabha Brahme, ed. (2011).
Good Economics for Hard Times: Better Answers to Our Biggest Problems. United States: PublicAffairs. November 12, 2019. ISBN 978-1-61039-950-0. 432 pages. [3] Good Economics for Hard Times: Better Answers to Our Biggest Problems. India: Juggernaut Books. November 12, 2019. ISBN 9789353450700. 416 pages. [15]
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 125th by GDP (PPP). [62]