1

DAMODARAM SANJIVAYYA NATIONAL LAW UNIVERSITY

VISAKHAPATNAM, A.P., INDIA

JULY 2018

PROJECT TITLE
ECONOMY IN MEDIEVAL INDIA

SUBJECT
HISTORY PROJECT

NAME OF THE FACULTY

Prof. Viswachandra Nath Madasu

NAME OF THE CANDIDATE

SHAIK NAZEEMUNNISA

ROLL.NO. AND SEMESTER

2018LLB084 & FIRST SEMESTER
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Acknowledgement

I would sincerely like to put forward my heartfelt appreciation to our respected History
professor, Prof. Viswachandra Nath Madasu for giving me a golden opportunity to take up
this project regarding “Economy in Medieval India”. I have tried my best to collect
information about the project in various possible ways to depict clear picture about the given
project topic.
 3

Contents

Introduction………………………………………………...............................4

Delhi Sultanate…………………………………………………………………6

Rajput Period…………………………………………………………………..10

Vijayanagara Empire..…………………………………………………………13

Mughal Empire…………………………………………………………………16

Conclusion……………………………………………………………………..20

Bibliography………………………………………………………...................21
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Introduction

Medieval India refers to a long period of the history of the Indian

subcontinent between the "ancient period" and "modern period". Definitions of the period
itself vary widely, and partly for this reason, many historians now prefer to avoid the term
completely.

One definition includes the period from the 8th century to the 16th century, essentially
the same period as the Middle Ages of Europe. It may be divided into two periods: The 'early
medieval period' which lasted from the 6th to the 13th century and the 'late medieval period'
which lasted from the 13th to the 16th century, ending with the start of the Mughal Empire in
1526. The Mughal era, from the 16th century to the 18th century, is often referred to as
the early modern period, but is sometimes also included in the 'late medieval' period.

Early medieval period

The early medieval period of Indian history may be seen as a transitional period
wherein changes in almost all institutions and spheres of society viz. political, social, cultural
as well as economy took place.

In economic sphere, the decline of trade and commerce, decay of urban centres,
paucity and irregular slow circulation of metallic money, the growing agrarian character of
society and emergence of self-sufficient economy were the salient features of economy.

Late Medieval Period

The establishment of the Delhi Sultanate was the beginning of a new phase in the
history of medieval India. It led to the unification of northern India and parts of the Deccan.
Towards the end of the 14th century, the Delhi Sultanate began to disintegrate. This led to the
emergence of a number of kingdoms in different parts of the country. A few like Bahmani
and Vijayanagara kingdoms emerged as the powerful ones. By now India had the presence of
Mughals and the original inhabitants all over in almost every kingdom in India. This led to
the formation of a new mixed kind of society which had new groups that included the Turks,
the Persians, the Mongols and the Afghans besides the Arabs who had settled in India.
 5

There were important changes in economic life also. Trade and crafts received a stimulus
and many new towns arose as centres of administration, trade and crafts. New elements of
technology were also introduced during this period.1
Economy
A very interesting development took place in this period. It was the rise of a self-sufficient
village economy where production was according to the requirements of the local residents of
the village. There was no interest taken to produce more than required and or little trade took
place outside the villages. This sort of subsistence economy of the village led to decline in
trade. The other reason for decline in trade include emergence of wide range of local
weights and measures and unstable political conditions and internal fighting.

MAJOR DYNASTIES IN THE MEDIEVAL PERIOD

 Delhi Sultanate –five short-lived dynasties, based in Delhi, from 1206 to 1526, when it fell
to the Mughal Empire.
 Rajput States – a group of Rajput Hindu states that ruled present day Rajasthan, and at times
Madhya Pradesh, Gujarat, Uttaranchal, Himachal Pradesh, Western Uttar Pradesh and Central
Uttar Pradesh. Many Rajput Kingdoms continued under the Mughals and as Princely States in
British India until Indian independence.
 Vijayanagara Empire 1336–1646, a Hindu-Kannadiga Empire based in Karnataka, in the
Deccan Plateau region. UNESCO World Heritage site Hampi in Karnataka district of Bellary
was their capital city.

1
https://en.wikipedia.org/wiki/Medieval_India
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The people in medieval India pursued diverse range of economic activities to earn
their basic livelihood. The sphere of their works varied from agricultural to artisanal
production, trade and commerce and associated commercial and financial services. These
activities underwent various changes throughout the course of this period. The state
mobilized its resources through collection of different types of taxes for its survival and
expansion.

DELHI SULTANATE

The Delhi Sultanate was a Muslim sultanate based mostly in Delhi that stretched
over large parts of the Indian subcontinent for 320 years (1206–1526).

Five dynasties ruled over the Delhi Sultanate sequentially:

The Mamluk dynasty (1206–1290);

The Khalji dynasty (1290–1320);

The Tughlaq dynasty (1320–1414);

The Sayyid dynasty (1414–1451); and

The Lodi dynasty (1451–1526).

Slave Dynasty

Qutubuddin Aibak, born as a slave in then Turkistan and as he grew up he became

the trusted lieutenant of Muhammad Ghur; is regarded as the founder and the first ruler of the
slave dynasty or then called as the ‘Mamluk Dynasty’. It was Qutub-ud-din Aibak who laid
the foundation for Qutub Minar in Delhi which was finished by Iltutmish. However, under
his reign, there were no major territorial expansions of the dynasty under his rule.
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Khilji Dynasty

Jalaluddin Khilji was the founder and the first ruler of the Khilji dynasty, after the
Slave dynasty. He got the throne of the Khilji dynasty after killing Kaikubad, the last ruler of
the slave dynasty. Jalaluddin Khalji was a noble man of the Turkish origins who had settled
in Afghanistan. The Delhi Sultanate rapidly expanded under the Khalji dynasty.

Tughlaq Dynasty

The Tughluq dynasty was established by Ghiyasuddin Tughluq who expanded his
kingdom after the Khalji dynasty collapsed. Muhammad bin Tughluq and Feroze Tughluq
were the well- known rulers among the Tughluqs. However, Muhammad bin Tughluq was
considered a prominent ruler who was scholarly and well-read in many subjects. After his
death, the Sultanate grew very weak and eventually collapsed.

Sayyed Dynasty

The Tughluq dynasty had come to an end by the 14th century due to the invasion by
the Turkish ruler Timur. However, Timur soon left and when he left, a local governor of
Multan named Khizr Khan replaced him and announced himself as the ruler of Delhi and
established the Sayyid dynasty.2

Economy under Delhi Sultanate

Economic condition of India was affluent under the reign of the Delhi Sultanate. In
fact the enormous wealth tempted Mahmud of Ghazni to invade India several times and each
time he got immense treasure from here. Malik Kafur, during the reign of Ala -ud -din Khilji,
brought so much wealth in plunder from south India that the value of currency fell down in
the north. The Sultans, the rulers of the independent provincial kingdoms and the nobles
possessed vast wealth and lived a life of luxury and pleasure. There are many beautiful
mosques, palaces, forts and monuments which were built during this period and this could not
have been possible without the economic prosperity of the country.

Trade increased immensely during the Delhi Sultanate. Currency system existed, which was
based on the silver tanka. Roads were developed, connecting Delhi, Lahore, and Sonargaon

2
History of Medieval India, V.D. MAHAJAN pg.01-20
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in Bengal. Communication system also emerged, where a relay system of post was created,
with horse riders to carry the post. Delhi, Lahore, Multan, and Lakhnauti were centers of new
industries, such as metal work, paper making, and textile. Textile trading was done with
China and west Asia, where horses, ivory, and spices were imported in place of textiles. The
trade was dominated by the Arabs, but the Tamils, the Kalingas, and Gujaratis also
participated in trade.

The main source of income of the state was land revenue termed as Kharaj. This denoted all
taxes including Jaziyah raised from the non-Muslims. AlauddinKhilji raised the land tax from
the earlier one-sixth and one-half of the gross produce. This was a type of capitation tax
levied upon every Hindu. Zakat is the name of the tax raised from rich Muslims for helping
the poor Muslims, Khams or Ghaninah.3

Agriculture
Agriculture was a major occupation at that time. Land was the source of production.
Produce was generally sufficient. The village was a self-sufficient unit. The husbandman took
to the tilling and harvesting of crops, the women folk lend their hands to various functions
like taking care of the animals; the carpenters made implements; the blacksmiths supplied the
iron parts of the implements; the potters made the household utensils; the cobblers mended or
made the shoes and the plough harness and the priest performed the marriage rites and other
ceremonies. There were subsidiary functions of the money-lender, the washer man, the
sweeper, the cow-herd and the barber. Land was the pivot around which the whole village life
revolved. The chief crops were pulses, wheat, rice, sugarcane, jute and cotton and many
more. Medicinal herbs, spices were also grown and exported to a certain extent. Some new
crops like tobacco, tea and coffee were also introduced. Among the fruits there were grapes,
dates, plantains, apples, oranges, and jack-fruits. Production was for local consumption.
Some people lived on the income derived from industries for which raw materials could be
imported. The towns served as centres of distribution of agricultural products and industrial
goods. The state took a large share of the produce in kind.

Industries
Although the bulk of the people were engaged in the occupation of agriculture, there
were many important industries in the rural as well as urban areas of our country. Moreover,
it is a well documented historical fact that centuries before the arrival of Turks, our country

3
History of Medieval India, V.D. MAHAJAN pg.333-39
 9

was industrially well-organized. There were village and cottage industries. The labour
employed was the family members; the technique was conservative. There were industries of
sugar, scents and spirits. Weaving and spinning of cotton were the cottage industries during
that period. A small-arm making industry was also working in full swing that time. There
were also goldsmiths and silversmiths. There were no factories or big enterprises. The
Sultans took a hand in building up big enterprises known as the 'Karkhanas.' Craftsmen were
employed under the direct supervision of officials to manufacture fashionable articles. Textile
industry was the biggest industry at that time. The textiles included cotton cloth, woollen and
silks. Allied industries of embroidery, gold thread work and dyeing were also there. Some
quantities were exported by Bengal and Gujarat. The famous centers of cloth manufacture
were Deogir and Maha Devanagari in the Deccan, Delhi in the North, Sonargaon and Dacca
in Bengal.

Trade and Commerce

Inland and foreign trade flourished. As for the internal trade we had the various
classes of merchants and shop-keepers. The Gujaratis of the North, the Chettis of the South
and the Banjaras of Rajputana were the main traders. Bigger deals in commodities were made
in 'mandis.' The Banjaras carried on the business of conveying agricultural and other products
from one part of the country to another. The native bankers used to give loans and receive
deposits. The chief articles of import were silks, velvets, embroidered stuff, horses, guns,
gun-powder, and some precious metals. The chief items of export were grain, cotton,
precious stones, indigo, hides, opium, spices and sugar. The countries affected by India in
commerce were Iraq, Persia, Egypt, East Africa, Malaya, Java, Sumatra, China, Central Asia
and Afghanistan.4

Tax system

The Sultan of the Delhi Sultanate collected five categories of taxes which fall under the
economic system of the empire. The taxes are Ushr, Kharaj, Khams, Jizya and Zakat.
Besides, there were also other taxes. The main items of expenditure were expenses on the

4
https://www.indianetzone.com/46/economic_condition_under_delhi_sultanate.htm
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maintenance of the army, salaries of the civil officers and the personal expenditure of the
Sultan and his palace.

Transport and Communication:

 Means of transport were cheap and adequate

 Safety on the roads was satisfactory and could be covered by insurance.
 The means of travel with Sarais at the distance of 5 kos on the principal highways was as
good as in Europe at the time. This gave the people a sense of security.
 The Mughals paid keen attention to the quality of roads and sarais which made
communication easier.
 A uniform tax was levied on goods at the point of their entry into the empire.
 Road cases or Rahdari was declared illegal, though it continued to be collected by some of
the local rajas. This was used to maintain good roads.
 The Sultanate Period was in all a Golden Period which capitalized well on both land and
people of India.

European Trade
Between the middle of the 16th century and the middle of the 18th century India’s overseas
trade steadily expanded. This was mainly due to the trading activities of the various European
companies which came to India during this period. But from the 7th century A.D. her
seaborne trade passed into the hands of the Arabs, who dominated the Indian Ocean and the
Red sea. This monopoly of Indian trade by the Arabs, and the Venetians was sought to be
broken by direct trade with India by the Portuguese. The arrival of the Portuguese in India
was followed by the advent of other European communities and soon India’s coastal and
maritime trade was monopolised by the Europeans.5

RAJPUT DYNASTY

The 500-year period from the 7th century A.D. to the 12th century A.D. (i.e., till the
arrival of Muslim Turks) may be called the Rajput period. The Rajput Period was considered
as the Dark Age of India. This Rajput dynasty was founded by Simharaj, who is famously

5
https://www.jagranjosh.com/general-knowledge/economic-conditions-during-delhi-sultanate-1441715253-1
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known as the founder of the city of Ajmer. Prithviraj Chauhan was considered greatest of all
Chauhan rulers. Today, it is the Indian state of Rajasthan. Most believe Rajputs come from
tribes in central Asia such as the Parthians, Kushans, Shakas, and Huns. These groups entered
India as conquerors and became kings or rulers. They often married high-caste Hindu women
or converted to Hinduism. Prithviraj Chauhan, King of Ajmer who ruled the kingdoms of
Ajmer and Delhi in northern India during the latter half of the 12th century. Raja Man Singh I
of Amber, King of Amber, Rajasthan and General of Akbar. Rana Hamir, the 14th-century
ruler of Mewar. Babur defeated the Rajputs at the Battle of Khanwa on 16 March 1527, with
the help of his superior techniques. The Rajput rulers agreed to pay tribute to Babur, but most
retained control of their states, and struggles between Babur's successor Humayun and the
Suri Dynasty for control of the Sultanate.
The Rajputs were fine soldiers and were not inferior to anyone in courage and velour,
yet they failed to establish an empire. The causes for this include:

1. The Rajputs were always fighting with each other and never united even against a common
foe.
2. The feudal system proved disastrous for the Rajputs.
3. The Rajputs were not conversant with the latest warfare techniques and their mode of
fighting and weapons were outdated.
4. The caste system prevalent amongst them gave rise to mutual jealousies. The defence of
the country also rested only in the hands of Kshatriyas.
5. The Rajputs’ love for frightening neutralized their resources. They were forever fighting
with their neighbors.6

Economic Condition:

Agriculture as the main occupation:

Agriculture was the mainstay of the people. The Rajput rulers dug out canals and tanks and
collected rain water in artificial lakes for purpose of irrigation. Dams were also raised.

6
https://www.globalsecurity.org/military/world/india/history-rajput.htm
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Irrigation facilities improved agriculture and the economic condition of the cultivators though
they sometimes had to suffer at the hands of some autocratic feudal chiefs.

Taxes:

Land revenue was the chief source of income and it was determined under a set formula
depending upon the fertility of the soil, irrigation facilities etc. Land revenue was paid mainly
in farm produce and a part in cash. Gifts, fines, minerals, forests and leased-out lands were
additional sources of income.

Industry:

Although there were several types of industries, on the whole, the state of industry declined
during the period.

Important industries were:

(i) Cotton cloth making,

(ii) Woolen cloth,

(iii) Weapon industry,

(iv) Manufacture of salt

(v) Carving high quality artistic pieces,

(vi) Statues making from ‘Ashtadhatus’ (eight metals),

(vii) Pottery making,

(viii) Ornament making,

(ix) Other industries were: ‘gur’ making, sugar, oil and liquor etc.

Trade and Commerce:

Internal as well as external trade declined. The balance of trade did not remain so much
favourable to India.Along with seaborne trade, India also had foreign trade through land.On
account of the decline of the Roman empire, seaborne trade of India suffered.
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India imported several condiments from south-east Asian countries probably to meet the
demand of the Eastern countries. From Central Asia and Western countries India imported
horses of high breed and high quality wine, Chinese silk, grapes from Cambodia and some
other articles.

India’s exports consisted of sandalwood, camphor, cloves, indigo, ivory, coconut, herbs of
many types, black pepper, cardamoms, hides, ‘tusar’, and woolen clothes.

Gradually the balance of foreign trade did not remain so much in favour of India as it was
before because Chinese and Arabian ships were bigger and faster so Indian trade became
lesser in their comparison. After the twelfth century situation again turned in India's favour.
Bengal and Southern India played the most important part in the trade of this period therefore
these states became very prosperous.

Because of developed industries, flourishing trade and agriculture the economic condition of
India was good. The major part of the country's wealth was concentrated in the ruling class
and places of worship; so were the valuable metals. Common people were not rich but their
life was not very difficult either.7

VIJAYANAGARA EMPIRE

The Vijayanagara Empire (also called Karnata Empire,and the Kingdom of Bisnegar
by the Portuguese) was based in the Deccan Plateau region in South India. It was established
in 1336 by Harihara I and his brother Bukka Raya I of Sangama Dynasty. The empire rose to
prominence as a culmination of attempts by the southern powers to ward off Islamic
invasions by the end of the 13th century. It lasted until 1646, although its power declined
after a major military defeat in 1565 by the combined armies of the Deccan sultanates. The
empire is named after its capital city of Vijayanagara, whose ruins surround present day
Hampi.

The rise of Vijayanagar Empire was accompanied by the decline of Delhi Sultanate.
The empire was ruled by four dynasties. I.e. Sangama dynasty, Saluva dynasty, Tuluva
dynasty, and Aravidu dynasty. The rulers of Vijayanagar Empire devoted themselves to the
growth of agriculture, and built cities and capitals with magnificent buildings. The different

7
http://www.historydiscussion.net/history-of-india/india-during-the-rajput-period-2/2620
 14

aspects of Society and Economy under Vijaynagara Empire are contained in narratives of
foreign travellers, inscriptions, and literature.8

Economic Conditions

The Vijayanagara Empire was one of the richest state then known to the world. Several
foreign travellers, who visited the empire during the 15th and 16th Centuries, have left
glowing accounts of its splendour and wealth.

Agriculture:

It was in a flourishing condition. It was the policy of rulers to encourage agriculture in

the different parts of the empire and to increase agricultural production by a wise irrigation
policy. Nuniz, the Portuguese traveller, speaks of the construction of a dam and excavation of
canals.

Industries:

The agricultural wealth was supplemented. by numerous industries, the most important
of which were textiles, mining and metallurgy. Another important industry was perfumery.

 Industries and crafts were regulated by guilds.

 It was common practice for people of the same trade to live in one and the same
quarter of the city.
 Abdur Razzak, the Persian diplomat and traveller, remarks: 'The tradesmen of each
separate guild or craft have their shops close to another'. Trade There was flourishing
inland, coastal and overseas trade which was an important source of general
prosperity. The kingdom, according to Abdur Razzak, had 300 sea ports.
 The most important commercial area on the West coast was Malabar, with its
important port of Cannanore. It had commercial relations with the islands of the
Indian Ocean, Burma, the Malay Archipelago and China in the East, and Arabia,
Persia, South Africa, Abyssinia and Portugal on the West.
 Among the exports, the main items were cloth, spices, rice, iron, saltpeter, sugar, etc.
The main imports consisted of horses, elephants, pearls, copper, coral, mercury,
China silks and velvets.
8
BURTON STEIN, Vijayanagara pg.01-10
 15

 Ships were used for coastal and overseas trade. Vijayanagar had its own ships; the art
of ship-building was known, but we do not know if ocean-going ships were built.
 Barbosa, another Portuguese traveller, says that South India got its ships built in the
Maldive Islands.

Coinage

The Vijayanagar emperors issued a large number of gold coins, called Varahas or Pagodas
(Varahas because the most common symbol was Varaha-the Boar incarnation of Vishnu).
Harihara I and Bukka I used the Hanuman symbol in their coins.

 Krishna Deva Raya's coins had the figures of Venkatesh and Balkrishna.
 Achyuta Raya used Garuda while Tirumala maintained the original Varaha.

Standard of Living

 The accounts of foreign travellers speak of the high standards of living of the upper
and middle classes.
 The splendour of the capital city bears testimony to the wealth which was, however,
the monopoly of only a section of the population.
 But the prices of articles were low and the minimum necessities were probably not
beyond the means of the common people.
 However, producers, mainly agricultural producers, apparently got inadequate prices
for their produce.
 Another main defect of the economic system was that the common people had to bear
the burnt of taxation, which was quite heavy and the local authorities sometimes
adopted oppressive methods of collection.9

Mughal Empire

The Mughal Empire or Mogul Empire was an empire in the Indian subcontinent, founded in
1526. The empire was founded by the Mongol leader Babur in 1526, when he defeated

9
https://www.jagranjosh.com/general-knowledge/society-and-economy-under-vijaynagara-empire-
1494225207-1
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Ibrahim Lodi, the last of the Afghan Lodi Sultans at the First Battle of Panipat, where they
used gunpowder for the first time in India. The Mughal Empire is known as a “gunpowder
empire. The period of the Great Mughals, which began in 1526 with Babur's accession to the
throne, ended with the death of Aurangzeb in 1707. Aurangzeb's death marked the end of an
era in Indian history.10

Indian Economy under Mughals:

Economy in Mughal Empire was dependent on agriculture, trade and other industries.
According to historians, since time immemorial agriculture has always been the backbone of
economy of the country. Thus, in the Mughal era also agriculture was actually the biggest
source of income. Moreover, it was also one of the main sources of livelihood of majority of
the people in the country. The major crops that were grown during the Mughal era included
millets, oil seeds, cereals, hemp, chilli, sugarcane, cotton, indigo, betel and other cash crops.
Indigo cultivation was popular at that time in places various places like Agra and Gujarat. On
the other hand, Ajmer was well known for the production of best quality sugarcane. Improved
transport and communication facilities also helped the development of economy during the
reign of Mughal emperors. There was tremendous demand for cash crops like silk and cotton
as because the textile industry was flourishing during the Mughal period. The peasants
primarily depended on rains, ponds and wells. There were canals also but not much
improvement was made in man-made means of irrigation. Wild animals used to harm
cultivation as there were extensive forests. Except during the reign of Akbar and Jahangir,
land revenue was quite heavy. Dipalpur region was known for the production of Jawar.
Millets were particularly grown in Ajmer, Gujarat and Khandesh. Silk cultivation was so
widespread in Bengal that there was no need to import it from China. The adoption of potato
and red chillies followed during the 18th century.

Further, during the reign of Mughal emperor Jahangir, Portuguese introduced the cultivation
of tobacco and potato in India. Mughal emperor Babur introduced the cultivation of several
other central Asian fruits in the country. Moreover, during the reign of Akbar Firoz Shah's
Yamuna canal was repaired for irrigation purposes. The Mughal Emperors preferred to settle
in cities and towns. The artistic lifestyle of the Mughal rulers also encouraged art and
architecture, handicrafts and trade in the country. During that era, the merchants and the
trader class were divided into large business powers. During the Mughal era, trade both inside

10
https://en.wikipedia.org/wiki/Mughal_Empire
 17

the country and outside grew tremendously. One of the main reasons cited by the historians
for such development is the economic and political merger of India. Further, constitution of
law and order over broad areas also created favourable environs for trade and commerce.

Rapid development of trade and commerce was also supported by the improved transport and
communications systems. The Mughal rulers also encouraged the monetisation of the
economy. Another factor that helped in the tremendous growth of business in that period was
the arrival of European traders and growth of huge European trade. Fatehpur Sikri, Lahore
and Agra were the chief centres of silk weaving whereas Cambay, Broach and Surat in
Gujarat were the major ports for foreign trade and business. By the time of the Mughals,
cities had grown in importance. Urbanisation and fixed markets also helped in expanding
economy in Mughal Empire. Initially, the weekly market concept was popular. Eventually
several trade centres in prosperous cities with the growth of the economy. Besides the
metalled highways, river transport system was also considered significant for navigation
throughout the year. Such initiatives by the rulers were vital contributing factors in the
developed economy of the era.11

Industries:

(1) Varied industrial activity:

The authors of An Advanced History of India have observed, “One of the most important
factors in the economic history of India during the period under review was the extensive and
varied industrial activity of the people, which besides supplying the needs of the local
aristocracy and merchants could meet the demands of traders coming from Europe, and other
parts of India.”

(2) Cotton and Silk Industry:

Important centres of cotton manufacture were found in all parts of India. Dacca attained a
wide reputation for its delicate muslin. Pelsaert was of the opinion that at Chabasupur and

11
https://www.indianetzone.com/50/economy_mughal_empire.htm
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Sonargaon “all live by the weaving industry and the produce has the highest reputation of
quality. Bernier opined, “There is in Bengal such a quantity of cotton and silk, that the
kingdom may be called the common store-house for these two kinds of merchandise, not of
Hindustan or the Empire of the Great Mughal only, but of all neighbouring kingdoms, and
even of Europe.

The dyeing industry was also very popular. Printing of cloth was in vogue. Silk-weaving also
arrested the notice of some persons. The imperial patronage gave it a considerable impetus.”
Moreland wrote that the production of silk in Bengal alone was about 2 ½ million pounds out
of which one million pounds were worked up locally, ¾ million was exported raw by the
Dutch and ¾ million distributed over India, most of it going to Gujarat, but some being taken
by merchants from Central Asia.”

Trade:

During the Mughal period both internal and external trade was in a healthy state.

Foreign Trade during the Rule of Mughal Emperors:

During the greater part of the Mughal period, India has an active and considerable foreign
trade with different countries of Asia and Europe. Traders from all the world over visited her
shores for trade in her manufactures.

Goods were carried either by the overland routes in the North-west through Lahore and Kabul
to Central Asia or through Multan and Kandhar to Persia or by sea to the Persian gulf and
Red sea-ports in the west and to the Indian Archipelago and spice islands in east. The chief
ports were Lahori Bander and Surat in the west, Masaulipatam in the South, Chittagong,
Satgaon and Sonargaon in the East.

India’s exports consisted of manufactures such as Calicoes, muslins, Silks and fancy goods
and raw materials comprising indigo, Salt-petre, spices and pepper. Indian textiles, in
particular, found extensive markets in the countries of Asia and Europe

India’s chief imports were gold, silver, precious stones, horses, metals, tobacco and African
slaves. The country always has a favourable balance of trade. The gap between exports and
imports was made good by imports of bullion and precious stones.
 19

Currency and Prices during the Rule of Mughal Emperors:

Since the time of Akbar, the units of currency had been the gold mohur and the silver rupee,
both being equal in weight, and common measure of value which circulated without any
fixed ratio of exchange between them. In south India, pagoda, the coin of ancient Hindu
kings, was the standard of value and also the medium of exchange. It continued to be so till
the time of the East India Company.12

CONCLUSION

12
http://www.economicsdiscussion.net/india/indian-economy-during-the-rule-of-mughal-emperors/21207
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Agriculture formed the occupation of the bulk of the people. An increase in agricultural
production was sought through expansion of agriculture in newer areas as part of state policy.
The peasants produced a large variety of food crops, cash crops, fruits, vegetables and spices.
They practised advanced agricultural techniques such as crop rotation, double cropping, three
crop harvesting, fruit grafting etc. Various types of artificial water lifting devices were also
used for this purpose. The state derived the largest part of its income from land revenue. The
land revenue administration was streamlined and elaborately developed as a result of some of
the pioneering efforts made in this field by rulers like Alauddin Khalji, Sher Shah Suri and
Akbar.

A powerful group of revenue intermediaries existed in between the state and the
peasantry. They enjoyed some hereditary or state granted rights (either as religious grants or
grants in lieu of their services) over appropriation of land revenue from the designated areas.
These intermediaries assisted the state in the process of land revenue collection. The
medieval Indian peasantry was a hard pressed lot. The repressive nature of land tax, demand
of share in revenue by intermediaries, frequent natural calamities rendered the life of an
average peasant dismal and deplorable. Peasant revolts, therefore, were not altogether
unknown during this period. Textile, mining and metallurgy, ship-building, construction
works, arms and armour manufacturing, were some of the prominent crafts practised during
this period. Craft production was organised at various levels of village, towns and the state,
wherein state owned artisanal workshops (royal Karkhanas) produced commodities for the
consumption of the ruling elite.

In the field of commerce India had trade links with contemporary central Asia, China,
South-east Asia and Europe etc. The European trading companies viz., the Portuguese,
English, Dutch and French, and their participation in the Indian, Intra-Asian, and Euro-Asian
trade influenced Indian commence.

Expansion of trade & commerce along with new commercial practices like
brokerage, hundi (bills of exchange) and bima (insurance) helped commercial activity
 21

Bibliography

BOOKS:

V.D. MAHAJAN, History of Medieval India pg.333-39

BURTON STEIN, Vijayanagara pg.80-90

Online resources:

Delhi Sultanate

https://www.jagranjosh.com/

https://www.indianetzone.com/46/economic_condition_under_delhi_sultanate.htm

Rajput Empire

https://www.globalsecurity.org/military/world/india/history-rajput.htm

http://www.historydiscussion.net/history-of-india/india-during-the-rajput-period-2/2620

Mughal Empire

https://en.wikipedia.org/wiki/Mughal_Empire

https://www.indianetzone.com/50/economy_mughal_empire.htm

http://www.economicsdiscussion.net/india/indian-economy-during-the-rule-of-mughal-emperors/
21207

Vijayanagara Empire

https://www.jagranjosh.com/general-knowledge/society-and-economy-under-vijaynagara-empire-
1494225207-1