Conclusion

The work aims to study “Economy of Ancient India from 200 BC to 300 AD”.
The period is known for the political instability because there were continuous foreign
invasions which changed the political scenario of India. There was political
decentralization as there was no single and centralized empire emerged during the

ty
period. Though India was divided into small kingdoms ruled by both local and foreign

i
rs
dynasties. Indian society was generally divided into four Varnas and each Varna had

ve
its own role and duties. As a result of social and economic changes, the conditions

ni
and status of lower classes were improved during this period. The foreign people who

U
came India as invaders or immigrants adopted Indian culture and incorporated

lim
themselves in the Kshatriya Varna known as Fallen-Kshatriya (Vrata kshatriya). The
condition of women seems improving but Smriti literature does not show much favor

us
to them as it depicts the poor image of the women. The social, political and economic

M
changes of this period had great impact on the culture including food, habits, and
h
dresses etc.
ar
lig

The geographical location and physical settings of India played an important

A

role in shaping its economy since early times. Monsoon played an important role in
y,

bringing periodic rainfall in India which was the main source of irrigating the fields in
ar

the absence of any modern irrigating technology. It also helped in the moments of
br

ships in the Indian Ocean which facilitated trade and commerce. There was diversity
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in the climate, topography and soils of India which in turn created diversity in the
d

natural resources. These three factors were the main determinants of meeting the
za

requirements of natural resources which were suitable for their genesis and
A

production. These natural resources were chief sources of economic prosperity and
na

development.
la

There was the large production of agricultural crops along with the
au

horticultural produces. These crops were also confirmed by the Paleo botanical
M

remains which have been reported from some archaeological sites of this period. The
rulers of this period played an important role in the development of agricultural
production. They provided good irrigation facilities for better ensure of crops. They
got dug wells, ponds, lakes etc. These irrigation sources brought income for the state
in the form of irrigation tax and these irrigation works needed huge labourers, so an

144
 employment were generated by the rulers of this period. Better agricultural tools and
implements were used in agriculture which became the main factor for better
agricultural production. Individual farming was also done during the period. State had
its own farms, laborers and slaves who were employed on its own farms for
cultivating the land. The labourers were paid in cash on the basis of works which was
judged by their masters. The mining and forest’s role cannot be ignored in the

ty
economic development of this period. Through the mining, various metals such as

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rs
gold, silver, copper and other metals were obtained even Strabo informs that Indians

ve
were not expert in the art of mining but this view is not fully accepted because Indian

ni
sources do not comply with Indian sources as Arthsastra gives detailed information

U
about the mining. A large number of products including both plants and animals were

lim
obtained from the forests which had economic values and were also used as trade

us
commodities. This period proved instrumental for the emergence of feudalism in
India. A large number of land grants and villages were given to the ascetic classes.
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Even their lands were rent free lands and they were subjected to pay land revenue and
h
ar

not interfered by state officials. They employed labourers who worked on their lands
lig

as cultivators which increased the area of agricultural lands. It led to the good
agricultural production. This good agricultural production contributed a lot of income
A

for the state in the form of land revenue. The amount of land revenue was one fourth
y,
ar

and one sixth of the produce. As per some scholars are the opinions that one fourth
br

was realized from irrigated lands and one sixth from non-irrigated lands. Variations in
Li

the amount of land revenue were due to the regional differences in land revenues or
sometimes the state realized the one figure and sometimes the other figure of the land
d
za

revenue. There are other cases when one fourth was realized during normal conditions
A

in the society and one sixth was realized at the time of natural calamities or other
na

problems faced by cultivators. There is a lot of debate among the scholars regarding
the ownership of land during the period. Sources informs that state was the owner of
la
au

the land even Manu also informs that it was he who first clear the forest was the
owner of land but he might refers to any political authority or king who possessed
M

tools to clear the forests and make it fit for cultivation. At the end, Agricultural
economy was the base for other sectors of economy in the form of raw-materials i.e.
for arts and craftsmen as well for industries and when these raw-materials were
converted into finished goods that became the articles of trade and commerce.

145
 Both internal and external trade reached its zenith during the period. Internal
trade was among various regions of the country. There was no doubt that politically
India was divided into many kingdoms, Northern India was stabilized and controlled
by the Kushanas, Deccan was controlled by Satvahanas and western India was usually
controlled by the Sakas but there was continuous wars between Sakas and Satvahanas
to control the western Indian ports because the ports were the chief source of income

ty
for the state in the form of custom duties. The trade articles were exchanged from all

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geographical and political regions of India through the land and river routes which

ve
were inter connected and inter linked with each other. Articles such as horses, costus,

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cotton and muslins etc. were brought from the northern India; south India supplied

U
gold, pepper, pearls etc. to the northern and western India. Archaeological evidences

lim
such as pottery, coins etc. suggest internal trade. Satvahanas copper coins have been

us
identified at Kausambi site in Allahabad which suggests that there was internal trade
between Satvahanas and Kushanas regions as this fact has not emphasized in the
earlier works. M
h
ar

During this period India had trade relations with the Roman world, Egypt,
lig

Arabia, Africa, Yemen, Iran, Ceylon and South-East Asian countries proved by both
A

literarily evidences and archaeological evidences. This fact can also be confirmed
y,

when Indian pottery, Kushanas coins, semi-precious and precious beads etc. have
ar

been found outside India and many foreign archaeological findings such green tiles of
br

Persia, foreign coins, Roman pottery, mirrors of copper and bronze, Roman glasses
Li

etc. have been reported from many Indian archaeological sites. This indicates
d

flourishing India’s trade with the foreign countries. The Indian traders used to reside
za

in foreign countries such as in Central Asia, Egypt, Ceylon and South East Asian
A

countries for trade purposes and the foreign traders and merchants who lived in India.
na

The balance of trade was favorable to India which is proved by both literary
la
au

and archaeological evidences because a large number of Roman gold and silver coins
have been discovered in India. This fact is also corroborated by the statement of Pliny
M

also informs that Balance of trade was favorable to India. There were many factors
which were responsible for the development of trade and commerce during this period
which have been analyzed. The first factor was the penetration of large numbers of
invaders and immigrants into the Indian sub-continent. This created a link and
network between the people who came outside and the people of India which led to
146
 the exchange of goods, services and ideas. The second factor was the role of state
which was the chief factor for the development of economy. The northern India was
united by the Kushanas and they controlled mainly the land routes of northern India
and Silk route because it brought income for the Kushanas in the form of custom
duties. The Malabar Coast was controlled by the Cheras. Orissa was controlled by
Kharvelas which had direct link with the South East countries. Pandyas and Cholas

ty
controlled the Tamil Nadu which was directly linked with the Srilanka and

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rs
Tamralipti. The western India was usually controlled by western Kshatrapas and

ve
Deccan area was controlled by Satvahanas but there were wars between the

ni
Satvahanas and western Kshatrapas to control the ports of western India in order to

U
control the western trade, later on the matrimonial alliance was made between

lim
Satvahanas and western Kshatrapas. The rulers of this period paid huge attention

us
towards the development of ports and trading stations. The trade routes were
improved and made safe for the merchants and traders as they were given protection.
M
The transport system and its means were improved. They also issued metallic coins in
h
ar

large numbers which became the medium of exchange and facilitated the trade and
lig

commerce. There is no doubt that state brought political stability provide safety to the
merchants or traders which had great impact on trade but it has been also newly
A

observed that the traders or merchants themselves took the weapons for defense when
y,
ar

they went for overland trade. The third factor was the discovery of Hippolus which
br

were trade winds that used to blow from Arabian Sea. It gave easy movements and
Li

direction to the ships which facilitated the trade and commerce. The fourth factor was
the high demands of Indian goods in the world markets because of the utility and
d
za

uniqueness of their production. The foreign rulers and elite masses brought goods
A

from their countries created a sense of elite and taste. The fifth factor was the
na

religious factor. Earlier works have bothered little attention on this religious aspect
which has its role to play in the development of trade and commerce as the ascetic
la
au

people were found as the chief customers of traders and merchants in particular
commodities. The religious classes got much benefited from the merchants and
M

traders as they used to provide certain kinds of amenities to the Buddhist monks and
other religious people such as money, clothes, robes, food, medicines etc. in lieu of
shelter and spiritual merits. They invested money to give them these amenities. So the
role of religion could not be ignored. Trade and commerce was the chief source of

147
 income for the state at that time in the form of taxes, tolls and tariffs. It also helped in
the growth of ports and trading centers which became urban centers.

The chief items of export from India to the foreign countries were cotton,
ivory, pepper, pearls, diamonds, cinnamon, muslin, teak wood, ebony, iron and steel,
animals like hunting dogs, Indian cows, Indian women, precious and semi-precious

ty
stones etc. India traders also brought silk from China for gold, silver and precious

i
rs
stones and exported to the west. Roman glass objects were exported by the South

ve
Indian merchants to China. So, Indian traders acted as middle men between the
eastern and western trade. Horses, precious, semi-precious stones, ivory, pottery were

ni
U
also exported to the south East Asian countries. There was the importation of silk

lim
from China through Silk route in the North West and Assam Burma China route in the
east. Coral, storax, tortoise shell, wine, crude glasses, singing girls, myrrh, white and

us
black lead, pottery such as arretine ware and rouletted ware etc. were imported from

M
the Roman world. India also imported cloves and spices from south East Asian
h
countries. Pearls, spices, muslins etc. were imported from Ceylon and India exported
ar

Arkimedu carnelian beads, reddish carnelian beads of Gujarat, pottery, glass beads
lig

etc. The trade was done through both sea and land routes. Before the coming of
A

Roman king Augustus the India foreign trade was usually carried through the Silk
y,

route and Parthians traders were acted as middlemen between eastern and western
ar

trade. But when Augustus came to power in Roman world as he made the made sea
br

routes safe for traders who traded with the west. This created shift from land trade to
Li

sea routes because the Parthians middlemen always created problems for the foreign
d

traders as they demanded high custom duties as the foreign traders had to passed in
za

their territories over great Silk land route. This also led to the involvement of a large
A

numbers of Indian traders acted as middlemen between the China and Roman world.
na

Earlier works mainly focused on the fact that Roman trade was mainly with the south
la

India but in this period it has also been observed that Roman trade was with the whole
au

subcontinent because many Roman coins, Roman pottery and Roman copper and
M

bronze mirrors from Gandhar regions have been reported. Secondly, Kushanas issued
their currency based on the Roman standard because of flourishing Indo Roman trade.
Thirdly, many trade products such as costus and shawls from Jammu and Kashmir,
muslins and betel nut from Bengal, cotton cloth from Kalinga and Vasta, Black wood
from Punjab and silk from China through northern India as all these products were

148
 produced in the Northern and eastern India which had demand in the Roman markets.
On the basis of these evidences Roman trade was carried with whole of India and it
was not mainly confined to southern India. Earlier works focused that Indo Roman
trade ended in the 2nd century AD but it has been observed that it continued even after
3rd century AD. Roman pottery from Arkimedu and Roman coins in India sufficiently
indicated that the trade was continued even after 2nd century AD. Moreover, the

ty
writings of Ptolemy (2nd century AD) mention the flourishing of Indian trading

i
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stations or ports which earlier had flourished due to Indo Roman trade and other

ve
foreign trade. Vienna Muzirus Papyrus dated 2nd and 3rd century AD informs that

ni
there was flourishing Indo Roman trade.

U
lim
There was flourishing of arts, crafts and industries during the period of study
as confirmed both by literarily and archaeological evidences. These arts, crafts and

us
industries were the development of textile industry, ceramic industry, metal industry,

M
wine making, glass industry etc. Glass was brought from the Medeteriian regions to
h
India as trade article but later on the articles of glass were manufactured in India
ar

under the supervision of Roman experts as Arkimedu site made the impression that
lig

there were the presence of Roman craftsmen because a large quantity of Roman
A

pottery and other objects were found in this site. There was no doubt that this period
y,

witnessed the development of both indigenous and foreign arts and crafts. Satvahanas
ar

were indigenous ruling dynasty of Deccan and western India but their arts and crafts
br

were not totally indigenous because there are references that Satvahanas town such as
Li

Dhenukakata were inhabited by foreign arts and craftsmen which obviously had
d

impact on their arts and crafts. The foreign pottery such as arretine wares and
za

rouletted wares were brought to India not only with wine but also with olive oil
A

though earlier works mention that only wine was brought into these foreign wares.
na

Along with development of both urban and rural crafts, this period is known for the
la

diversification of different professions and development of service sector of economy.

au

The law-givers of this period assigned different crafts and professions to the people
M

on the basis of their castes as the period is known for the mixed castes emerged due to
the anuloma and pratiloma marriages which were contrary to earlier period. Due to
the penetration of foreigners into the Indian society, a large number of artists and
craftsmen came to India, settled here and practiced their arts and crafts. Though there
are references regarding the presence of foreign craftsmen in India but there are also

149
 references that Indian craftsmen settled and worked in the foreign lands as many
Indian names come from the foreign inscriptions. Further, around 3000 beads of glass,
agate, carnelian and crystal were found at Ban Donta Phet in Thailand which confirms
the presence of Indians in the foreign land.

Many reasons were identified responsible for the development of arts, crafts

ty
and industries. The first was the easily availability of raw-materials in the form of

i
rs
agricultural produces, minerals and metals which were needed for the development of

ve
arts and crafts as well as for industries. The second reason was the role of state that
was main factor in the development of arts, crafts and industries. They improved

ni
U
transport system and improved trade routes which helped in the easy movements of

lim
raw-materials to the craftsmen and industries. The state itself was the chief consumer
of their finished goods and their finished goods had high demands in the local and

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foreign markets and due to the above, they manufactured more and more finished

M
goods which led to the development of trade and commerce. The third reason was the
h
role played by guilds in the developments of arts, crafts and industries. Guild was the
ar

independent corporate body of merchants, traders, craftsmen and industrialists. These

lig

guilds were the specialized in particular kind of manufacturing or production. There

A

were potter-guilds, weaver-guilds, merchant-guilds and so many other guilds. They

y,

had their own rules and laws. State never interfered in their matters. They had their
ar

own judicial powers as they solved their cases themselves. They also acted as
br

bankers. The development of arts and crafts led to the growth of urban centers and
Li

towns as this period was known for the development of huge urban networks which is
d

proved by both literarily and archaeological sources. But the important towns of this
za

period such as Govardhana, Dhenukakata and Kanchi have not been given due
A

attention till date.

na

The monetary system was found much developed during the period as proved
la
au

by the sources. The coins were issued on large scale in different metals such as gold,
copper, silver, potin, lead, bronze and nickel by the rulers of different dynasties, tribal
M

republics, guilds, towns etc. There were also the importation of Roman gold and silver
coins in India but it does not mean that Indians were totally dependent upon the
foreign gold and silver as there was huge amount of gold and silver. High metallic
currency was used for big transactions and low metallic currency was used for small
transactions. Earlier works have suggested that high metallic money such as gold and
150
 silver were used for international transactions but it has also been observed that low
metals such as lead, potin and copper were used in economy for foreign transaction.
Silver coins of Augustus have been found with the lead and potin coins of Satvahanas
and other was that ten copper coins of Hellenistic traders have been discovered in
Karur and Madurai belonged to first to second century AD. This fact also indicated
that Satvahanas might have exchanged their low metals with the Roman silver coins

ty
to finance the Roman trade and if they did not issue gold coins because they could

i
rs
made transactions in low metallic money to the Roman traders even Roman traders in

ve
turn made cash payments in the low metallic money of Satvahanas for their trade

ni
items. This indicates that the progress and prevailing of cash economy. Different

U
coins were issued by different dynasties. Gold coins were issued by Kushanas not by

lim
Satvahanas, Indo Greeks, Sakas, Parthians and others. There could be many reasons

us
why they did not issue gold coins. The first reason might be that gold was hoarded
and stored; the second is that the areas of gold mines could not come under their
M
control and the third is that they used foreign gold coins for paying their goods as
h
ar

there is reference regarding the importation of foreign gold and silver coins. Copper
lig

and silver coins were issued by all dynasties and tribal republics of the period.
Kushanas issued coins in all metals except few silver coins but it does not mean that
A

the Kushanas did not issue silver coins. Low metals such as lead, potin, bronze and tin
y,
ar

coins were issued by Satvahanas. Foreign coins have been identified from various
br

sites of India proved by both literally and archaeological sources which indicate the
Li

trade and commerce were flourishing and Indian goods had high demands in the
world markets. This also indicates that the balance of trade was favorable to India on
d
za

the basis of the quantity of these coins in India. It can further be corroborated with the
A

statement of Pliny as he too informs that balance of trade was favorable to India. It
na

has argued that the flow of Roman gold and silver coins was reduced and stopped
after the 3rd century AD but many hoards of Roman coins were reported from India
la

and Ceylon after the 3rd century which indicates the trade was continued rather than
au

declined. These coins contained different symbols, name of the rulers, scripts and
M

legends which provide information about the religion, culture, economy, flourishing
of metal industry. The geographical ranges or distributions of the coins indicate the
extent of the political extent of the dynasties or rulers, demands and exchange of the
currencies for cash transactions. The money economy became very common during
this period. It was used for investment, banking, trade and commerce, paying of taxes,
151
 tolls, tariffs, wages and salaries to the employers. Weight of the coins indicates the
value of the coins and availability of metals. Moreover, it also suggests considerable
purchasing capacity. Both the lower and higher denominations of the coins indicate
that the money was used for both the small and big transactions. Along with the
monetary economy, barter system was also prevailed during the period.

ty
To sum up, the period from 200 BC to 300 AD is proved for the political

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rs
decentralization, religious development along with increasing of various religious

ve
sects, cultural plurality, social mobility and social progress, scientific progress,
development of art and architecture and economic development and prosperity.

ni
U
lim
us
M
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A
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