India was the largest economy in the world till british rule.
The global contribution to world's GDP by major economies from 1 AD to 2003 AD :-
according to Angus Maddison's estimates.
Before the 18th century, China and India were
the two largest economies by GDP output.
British economist, Angus Maddison argues
that India's share of the world income went
from "27%" in 1700 (compared to Europe's
share of 23%) to 3% in 1950. Modern economic historians have blamed the colonial
rule for the dismal state of India's economy,
investment in Indian industries was limited
since it was a colony.
Source : Wikipedia
The global contribution to world's GDP by major economies from 1 AD to 2003 AD :-
according to Angus Maddison's estimates.
Before the 18th century, China and India were
the two largest economies by GDP output.
British economist, Angus Maddison argues
that India's share of the world income went
from "27%" in 1700 (compared to Europe's
share of 23%) to 3% in 1950. Modern economic historians have blamed the colonial
rule for the dismal state of India's economy,
investment in Indian industries was limited
since it was a colony.
Source : Wikipedia
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