India was called the golden bird in ancient times. This name did not come just like that. At that time, the land here was fertile, trade was flourishing and the coffers of the emperors were filled with immense wealth. This prosperity increased even further until the arrival of the Mughal period. Especially during the rule of Emperor Akbar, India reached its peak economically. Many historians believe that Akbar’s administrative structure was so strong that India’s share in the world economy reached almost one-fourth (25 percent). This is considered an incredible achievement for any ruler.
According to Aberdeen Asia and Money.com, in the year 1595, there were approximately nine crore rupees in his treasury. At that time this amount was considered a huge part of the total wealth of the world. If it is evaluated in today’s times, then this amount is equal to about 21 trillion dollars in comparison to the modern global economy. If we look at it in Indian currency, it amounts to approximately Rs 1750 lakh crore. From this comparison, it can be understood that if Akbar had lived today, he would have been among the richest rulers in the world, even leaving behind the economies of many developed countries.
Why was Akbar’s income more than Britain’s?
In the sixteenth century, when Britain was trying to increase its economic power, the Mughal Empire of India was already prosperous. Many Western researches found that Akbar’s annual income at that time was more than the total treasury of Britain. This difference shows how strong an economic structure India had.
Main reasons for increase in Akbar’s wealth
Akbar’s economic reforms changed the direction of the entire empire. Reorganization of the land revenue system was a major step. This system provided security to the farmers and ensured regular income to the government. With this the business continued to grow. Spices, clothes, silk, precious stones and handicrafts were exported from India to far-off countries. Due to the safety of sea routes, the confidence of traders increased and the treasury continued to be replenished. Stability in governance was also a big reason. Akbar paid attention to religious harmony and peaceful environment, which had a positive impact on both trade and production.
Composition of Akbar’s treasury
Details recorded in history show that there were mountains of gold and silver in the Mughal treasury. There was no count of the collection of diamonds, pearls and precious stones. Apart from this, taxes from land, profits from trade and income from craft industry made the Mughal imperial treasury the largest economic center in the world.
Why was India called the ‘golden bird’?
India’s agriculture was fertile, river valleys were suitable for trade and the craft industry had its own identity in the world. The global demand for spices, textiles and precious gems was so high that India’s trade became larger than the economies of many countries. Akbar’s reign was the brightest chapter of this golden age, which took India to the top of the world economy.
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