A Glimpse of Economic Conditions During Mughal Rule

Under the rules of Mughal emperors, the economy of India was dependent on agricultural growth. Based on the improvement in the socio-economical life of the urban and rural areas of India, the emperors of this particular dynasty were able to improve the economy of India. This current study has aimed to discuss an overview of the Mughal dynasty. This study will include the economic evaluation of Indian trade in relation to the industrial and foreign trade relations of India at that time. 

Overview of the Mughal emperor

The Mughal emperor ruled most of India. The Mughal Dynasty ruled from the 15th century to the 18th century in India. It has to be stated that, even if they belonged to the Islamic religion, the emperors of the Mughal Dynasty were able to rule a country where the majority of the people are Hindu. Making India the world’s greatest emperor, the Sultans of the Mughal Dynasty have been able to improve the economic condition of this country. Especially, to historians, the economy of India became the strongest one during the rule of Akbar, one of the most glorious emperors of the Mughal Dynasty.  

Indian economy during Mughal

• As it has been stated earlier, with the ruling of the Mughals, the Indian economy was focused deeply on the improvement of agriculture in India. 

• On the basis of this particular factual information, the farmers and the other portion of the rural areas of that time were asked to produce several products for the markets that helped the empire to get the top position in the world’s economy.

•  As soon as the farmers started exporting highly valuable agricultural commodities including cotton, silk, pepper, the trade value started increasing.

•  Following this improvement in trade and other transactions, the economy of India has been placed at the top of the world’s economy. 

Industrial status during Mughals

The agricultural output had been supplemented by the Mughal economy in trade. As India was mostly centralised by the ocean trade, the Indian trade started being integrated into the worldwide network. For instance, during the reign of one of the greatest Mughal emperors Akbar, the textile industry of India had a chance to evolve to a great extent. During the reign of Jahangir, the trade of potatoes and tobacco had been introduced by the invasion of the Portuguese. The trade of cotton had been traded on a large scale during the rule of the emperors of the Mughal Dynasty. 

Foreign trade during Mughals

As historians have identified it during the reign of the Mughal dynasty, India had been able to establish itself in world trade as an active and considerable industrial market. As per the studies, the Indian countries had been able to trade with the other countries of Asia and Europe. On the basis of the information, the trades were carried out by the North-West route of India, through Kabul, Lahore and central Asia. On the other hand, for managing the ocean trade, the Lahari Bander and Surat that are situated in the West, were considered as one the chief ports for foreign trade. 

Taxation under the Mughals

In accordance with the perspectives of the emperors of the Mughal Dynasty, taxation was considered the reward for governance in order to protect the subjects of the civilians. The main portion of the tax was put on the land along with the other taxes. The tax was also put on the activities that include the import and exportation of the goods via trade lines of India with other foreign countries. The ruler of the empire himself had overseen the taxation process and collection of taxes. This particular phenomenon has helped to improve the tax process and collection by maintaining an unbiased process as well. 

Condition of the urban and rural economy

As per the record, it can be proposed that the urban economy was mainly dependent on the agricultural improvement of the rural areas. The farmers have been asked to expand the agricultural space in the rural areas by cutting down the forests. For instance, agriculture has become the central part, as it was able to supply the most important supplements for the improvement of trade in India. Therefore, it can be stated that the rural socio-economic improvement influenced the trade in India that improved the urban economy. 

Conclusion 

The study has been conducted based on the explanation of the economic status of India during the rule of Mughal emperors. During the study, it has been discovered that India has seen the most glorious era in trade and economic improvement under the ruling of the Mughal dynasty.