Description: This book offers a major new economic history of India from the reign of Akbar in the sixteenth century to India's post-independence integration into the global economy. Using concepts and theories from economics and economic history alongside extensive new data, Bishnupriya Gupta builds a new framework for understanding the economic impacts and legacies of British rule. She charts India's transition from precolonial economy to colonial rule and evaluates its economic performance from a comparative perspective, particularly in the context of the Great Divergence between Europe and Asia. Finally, she examines India's post-independence economy and the evolution of social and economic inequality through to the turn of the twenty-first century. By taking a long view, the book sheds new light on the persistent effects of historical institutions as well as the impacts of policy-driven changes. It will be essential reading for anyone seeking to understand the long-run evolution of the Indian economy.
Brief description: Bishnupriya Gupta is Professor of Economics at University of Warwick and the research director of CAGE Research Centre. She is Honorary Professor at the School of Economics, Peking University. She has published widely on industrial development in colonial India and is a key contributor to the debate on the Great Divergence.
Review Quotes: 'This book is a must-read for anyone who has ever wondered whether British colonialism led to India's de-industrialization, whether independence made a difference to economic progress, and how much of India's post-colonial economic progress or stagnation can be attributed to its historical circumstances. Written by one of the leading academic experts on India's economic history, this book provides detailed data-driven answers to all these questions and more. Notable features include an integrated analysis of the colonial and post-colonial periods, a detailed discussion of regional, sectoral, caste and gender inequality, and an insightful comparison with the colonial and post-colonial experiences of Korea and Taiwan.' Lakshmi Iyer, Professor of Economics and Global Affairs, University of Notre Dame