India was a land full of treasure where many invaders came under the garb of trading. At that time ancient India was a global export hub, producing 43% of the world’s requirement and exporting to different parts of the world.
Why India was called the Golden Bird
In 300 BCE, when the Mauryas were ruling the majority of India, many traders from the West already started coming.
Borders were secured with guards and traders were only allowed after proper checking. Trading was done with exchange of gold coins.
By the time the Guptas started to rule India, the country had already become a global export hub where India was exporting 43% of world’s production. Indian spices were famous and exported to different parts of the world.
Apart from spices, India was also exporting cotton, rice, wheat, silk, glass, jewels, and many such things. Metal and minerals like gold, iron, copper, limestone, magnesium, diamonds were not just produced but also exported to different parts of the world.
Trading system in ancient India
For many centuries, the barter system was followed in India. Later, at the time of Mahajanapada, gold and silver coins came into existence for better trade.
When we talk about ancient India’s GDP, it was estimated to be 32.9% of world share in the first century and later reduced to 28.9% in the 11th century making it one of the largest economies in the world.
Western people started to call India the Golden Bird but invaders used trade as an opportunity to loot treasure.
After the Islamic invasion in the 11th century, they started to loot goods and by the 15th century, Indian GDP reduced to 24.5% making it the second largest after China.
In ancient India, there was more gold and treasure in temples than houses.
And recently,1000 years old Padmanabhaswamy temple in Kerala opened five gates out of six where they found priceless gold and diamonds. The statue of Vishnu Padmanabhaswamy is estimated to cost Rs 1 lakh crore.
Even after looting, India’s economy in the Mughal period was £17.5 million, greater than the entire treasure of Great Britain. But when the East India Company entered India, British looted so much of India’s wealth that they brought down the GDP from 24.5% to 3% of world’s share in 1947 and today India’s GDP stands at 7% in global share.
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