• Wednesday, June 19, 2019
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Economy during the Mughal era

The Indian economy was large and prosperous under the Mughal Empire. During the Mughal era, the gross domestic product (GDP) of India in 1600 was estimated at about 22.4% of the world economy, the second largest in the world, behind only Ming China but larger than Europe. By 1700, the GDP of Mughal India had risen to 24.4% of the world economy, the largest in the world, larger than both Qing China and Western Europe. Mughal India was the world leader in manufacturing, producing about 25% of the world’s industrial output up until the 18th century. India’s GDP growth increased under the Mughal Empire, with India’s GDP having a faster growth rate during the Mughal era than in the 1,500 years prior to the Mughal era. Mughal India’s economy has been described as a form of proto-industrialization, like that of 18th-century Western Europe prior to the Industrial Revolution.

The Mughals were responsible for building an extensive road system, creating a uniform currency, and the unification of the country. The empire had an extensive road network, which was vital to the economic infrastructure, built by a public works department set up by the Mughals which designed, constructed and maintained roads linking towns and cities across the empire, making trade easier to conduct.

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