Timeline of the economy of the Indian subcontinent

Updated on Jan 03, 2024

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This is a timeline of the economy of the Indian subcontinent. It includes the economic timeline of the region, from the ancient era to the present, and briefly summarises the data presented on the List of regions by past GDP (PPP) page.

Pre-colonial period

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

South Asia contained an estimated 75 of the world's 225.82 million souls (33.21%), and who individually generated an estimated average of $450 (1990 dollars) PPP per annum, and collectively produced $33,750 million, of the world's $105,402 million (32%), the largest regional contribution.

1000

South Asia contained an estimated 75 of the world's 267.33 million souls (28.05%), and who individually generated an estimated average of $450 (1990 dollars) PPP per annum, and collectively produced $33,750 million, of the world's $121,208 million (27.84%), the largest regional contribution

1500

South Asia contained an estimated 110 of the world's 438.43 million souls (25.09%), 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 China in regional share

1600

South Asia contained an estimated 135 of the world's 556,15 million souls (24.27%), and who individually generated an estimated average of $550 (1990 dollars) PPP per annum, and collectively produced $74,250 million, of the world's $331,344 million (24.41%),

1700

South Asia contained an estimated 165 of the world's 603.49 million souls (27.35%), and who individually generated an estimated average of $533 (1990 dollars) PPP per annum, and collectively produced $90,750 million, of the world's $371,058 million (24.46%), the largest regional contribution in the world.

East India Company

1793

Cornwallis' Permanent Settlement Instituted in Bengal

1820

China was the world's largest economy followed by the UK and India. 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.

1913

India's economy had a 5.4% share of world income under the British Empire.

1930

South Asia contained an estimated 336.4 of the world's 2,070 million souls (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

Famine of Bengal

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.

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.

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.

2014

India's economy is $7.376 trillion (purchasing power parity), the third largest in the world in terms of real GDP.

References

Timeline of the economy of the Indian subcontinent Wikipedia

(Text) CC BY-SA

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