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RE:apology from the british
by Subhasish Ghosh on May 09, 2007 10:26 PM

Hi Murthy,
Some "credible" evidence online of the state of India's economic well being for you. I quote from Wikipedia:
"According to economic historian Angus Maddison in his book The World Economy: A Millennial Perspective, India had the world's largest economy in the 1st century and 11th century, with a 32.9% share of world GDP in the 1st century and 28.9% in 1000 CE. However, it must be noted that Maddison in his work was comparing geographic regions before 1500 and the comparisons between India and China were between geographic locations that included those countries. In 1700, when most of India was ruled by the Mughal Empire, it had a 24.4% share of world GDP, the largest at the time, which fell drastically to 3.8% by 1952. Another estimate of India's pre-colonial economy puts the revenue of Akbar's Mughal empire in 1600 at ?17.5 million, in contrast to the entire treasury of Great Britain in 1800, which totalled ?16 million"
The article can be found at:
http://en.wikipedia.org/wiki/Economic_history_of_India


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