4. Early Business Houses in India-Emergence of business groups in Bombay & Calcutta.pptx

4. Early Business Houses in India-Emergence of business groups in Bombay & Calcutta.pptx

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Early Business Houses in India – Emergence of Business Groups in Bombay & Calcutta
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Early Origins of Business in India The known economic history of India begins with the Indus Valley Civilization (3300-1300 BC). - Mainly trading which was facilitated by advances in transport. 600 BC - Mahajanapadas (600 BC – 300 BC) minted money (silver coins) 300 BC – Mourya’s Empire united most of the Indian sub-continent. The political unity and military security allowed for common economic system and enhanced trade and commerce, with increased agriculture productivity.
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Early Origins of Business in India For the next 1700 years India produced its classical civilizations, such as Rastrakutas and Hoysalas. During this period, India is estimated to have had the largest economy of the ancient and medieval world between 1 – 16 th century controlling between 1/3 and ¼ of world’s wealth up to the time of the Mughal from when it rapidly declined (supported by economic historian, Angus Maddison in his book, “The World Economy: A Millennial Perspective).
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Emergence of Industrial Groups in Bombay & Calcutta West coast had attracted traders from Arabia, East Africa and Persian Gulf. Gujarat merchants built ships; sold cotton and gold cloth, ivory; engaged in banking and money lending; and traded in spices, jewels and diamonds. Bombay gradually developed both as a city and port when British moved over from Surat.
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  • Spring '12
  • XXX
  • Economics, Concepts, Gujarat, Merchant, 2nd millennium

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