Publication Details
Abstract
The Mughal Empire, which held dominion over large parts of the Indian subcontinent from the early 16th to the mid-18th century, significantly influenced the trajectory of India’s economic development. This research paper delves into the diverse economic dimensions of the Mughal era, including their agrarian reforms, revenue and taxation policies, trade mechanisms, industrial practices, and the development of infrastructure. Special attention is given to the empire’s centralized economic administration and the sophisticated land revenue system, which had far-reaching implications for both rural productivity and state revenue. The study further explores how Mughal involvement in international trade networks positioned India as a vital player in global commerce. It critically assesses the role of monetary policy and coinage reforms in standardizing economic transactions while also examining the economic consequences of continuous military campaigns and the resultant fiscal pressures. The paper aims to offer a balanced analysis of the Mughal Empire’s economic legacy, highlighting its contributions to prosperity as well as the structural challenges that laid the groundwork for regional disparities and future economic decline. In doing so, it also reflects on the socio-political ramifications of economic governance under the Mughals, providing insights into the complex interplay between economy and empire in pre-colonial India.