Economic history of India
The
economic history of India
begins with the
Indus Valley Civilization
(3300–1300 BC), whose
economy appears to have depended significantly on trade and examples of overseas trade,
notable being
Indus-Mesopotamia relations
. The
Vedic period
saw countable units of precious
metal being used for exchange. The term
Nishka
appears in this sense in the
Rigveda
.
[1]
Later
Vedic period began codifying the ancient Indian population based on
caste
, a
social
stratification
which created a hierarchy of priests (
Brahmins
), warriors (
Kshatriyas
), merchants
(
Vaishyas
) and laborers (
Shudras
).
[2]
Around 600 BC, the
Mahajanapadas
minted punch-marked silver coins. The period was marked
by intensive trade activity and urban development. By 300 BC, the
Maurya Empire
had united
most of the Indian subcontinent. The resulting political unity and military security allowed for a
common economic system and enhanced trade and commerce, with increased agricultural
productivity.
