This article documents the economic history of the Indian subcontinent. It includes the economic timeline of the region, from the ancient era to the present, and briefly summarizes the data presented in the Economic history of India and List of regions by past GDP (PPP) articles.

Antiquity 500 BC Silver punch-marked coinsNupam Mahajan and R. Balasubramaniam, "Scanning electron microscopy study of an ancient silver punch-marked coin with central pentagonal mark", Numismatic Digest v. 22. were minted as currency belonging to a period of intensive trade activity and urban development by the Mahajanapadas."Ancient Indian Coinage" , RBI Monetary Museum rbi.orgThe World Economy: Historical Statistics, Angus Maddison 4th century AD Indian subcontinent under the Gupta Empire united much of the subcontinent, contained 33.21% of the world’s population, contributed to around 33 to 35% of world's GDP, and generated an estimated average of $450 (1990 dollars) PPP per annum.

Middle Ages

1000 Indian subcontinent (led by the Chola, Western Chalukya and Pala empires) contained an estimated 28.05% of the world's population, and contributed to around 30 to 33% of world's GDP.Angus Maddison (2001). The World Economy: A Millennial Perspective, OECD, Paris Individually generated an estimated average of $450 (1990 dollars) PPP per annum, and collectively produced $33,750 million. 1500 Indian subcontinent (under the Delhi Sultanate, Vijayanagara Empire, Deccan sultanate, Gajapati Empire, Bengal Sultanate and Rajput kingdoms) contained an estimated 25.09% of the world's population, and who individually generated an estimated average of $550 (1990 dollars) PPP per annum, and collectively produced $60,500 million, of the world's $248,321 million (24.36%), second only to Ming China in regional share.Angus Maddison (2003). The World Economy: Historical Statistics, OECD, Paris

Mughal era

1500–1600 Indian subcontinent, mostly under the Mughal Empire (after the conquest of the Delhi Sultanate and Bengal Sultanate) became economically 10 times more powerful than the contemporary Kingdom of France, contained an estimated 24.27% of the world's population, and who individually generated an estimated average of $550 (1990 dollars) PPP per annum, and collectively produced $4,250 million, of the world's $31,344 million (4.41%).Bowen, H. V. Business of Empire: The East India Company and Imperial Britain, 1756–1833 (2006), 304pp 1600–1700 The Indian subcontinent, under Mughal Emperor's Aurangzeb becomes the world's largest economy (after the economic downfall by the transition from Ming to Qing) and the most important center of manufacturing in international trade, ahead of Qing China. Worth 25% of the world's industrial output, it signalled the Proto-industrialization.Kumar, Dharma and Meghnad Desai, eds. The Cambridge Economic History of India: Volume 2, c.1751-c.1970 (1983). 1700–1800 Large parts of the Indian subcontinent, including Bengal Subah, which accounted for 36% of Dutch imports,Om Prakash, "Empire, Mughal", History of World Trade Since 1450, edited by John J. McCusker, vol. 1, Macmillan Reference USA, 2006, pp. 237–240, World History in Context. Retrieved 3 August 2017 and Kingdom of Mysore, had some of the world's highest real wages and living standards, made direct essential contributions to the first Industrial Revolution in Britain.

Colonial period

East India Company 1793 Cornwallis' Permanent Settlement Instituted in Bengal. 1820 China was the world's largest economy followed by the UK and India. The Industrial Revolution in the UK catapulted the nation to the top league of Europe for the first time ever. During this period, British foreign and economic policies began treating India as an unequal partner for the first time.

1850 The gross domestic product of India in 1850 dropped to 5–10% and was estimated at about 40 per cent that of China. British cotton exports reach 30 per cent of the Indian market by 1850.

British Raj 1868 First estimation of India's national income by Dadabhai Naoroji. 1870 India's economy had a 9.2% share of world income under the British Empire. 1900 Under the British Empire, India's share of manufacturing declined to 2% of global industrial output. 1913 India's economy had a 5.4% share of world income under the British Empire. 1930 Indian subcontinent contained an estimated 336.4 of the world's 2,070 million people (16.25%), and who individually generated an estimated average of $726 (1990 dollars) per annum, and collectively produced $244,097 million, of the world's $3,800,000 million (6.42%). 1943 Bengal Famine.

Post-Independence period

Just after Independence 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.

1980–1991 Economically closed.

1991–present 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. 1996 Beginning of short-lived coalition govts. India's economy is $1.560 trillion (purchasing power parity) accounting for a 3.9% share of world GDP, the fifth largest in the world. 2004 First NDA govt ends, inflation is 3.8%. India's economy is $2.870 trillion (purchasing power parity) accounting for a 4.7% share of world GDP, the fourth largest. 2010 India's economy is $4.002 trillion (purchasing power parity) which accounts for a 4.5% share of world income, the fourth largest in the world in terms of real GDP (PPP). 2012 Second half of UPA-2 and Inflation 10%. India's economy is $4.825 trillion (purchasing power parity), the third largest in the world in terms of real GDP (PPP). 2014 India's economy is $7.376 trillion (purchasing power parity), the third largest in the world in terms of real GDP (PPP). 2017 NDA-2 and inflation is 3.8%. India's economy is $9.448 trillion (purchasing power parity) and accounts for a 6.8% share of world GDP (PPP). 2021 As of 2021, India's economy is $10.207 trillion (purchasing power parity) and accounts for a 7.19% share of world GDP (PPP).

See also Economy of South Asia List of regions by past GDP (PPP)

References

Further reading Maddison, Angus (2004). The World Economy: Historical Statistics. OECD. . (See Sample Table.)

World Bank, 1 July 2006. PPP GDP 2005.

External links Relation Between Inflow Of FDI and The Development Of India's Economy, IJTEMT