By Krishen Kanaya Kemmu
India, once the centre of global trade and cultural exchange, experienced centuries of decline due to invasions and colonialism. However, the last few decades mark a resurgence, positioning India as a rising economic and civilisational power.
Ancient prosperity and influence
India’s global economic stature can be traced back to the Indus Valley Civilization (2600–1900 BCE), which engaged in trade with Mesopotamia and Egypt. India was a key supplier of spices, textiles, and gemstones. During the Mauryan Empire (321–185 BCE), Emperor Ashoka expanded trade networks and promoted Buddhism, enhancing India’s influence across Asia.
The golden age (1st–13th Century CE) aw India become a hub for science, mathematics, art, and commerce. Dynasties like the Guptas, Pallavas, and Cholas expanded maritime trade, with ports like Kaveripattinam and Mamallapuram connecting India with Southeast Asia and China.
From around 250 BCE to 1200 CE, India was not just a trade giant but also a soft power exporter—spreading religion, language, medicine, and philosophy across Asia. India exported not just goods but ideas. Buddhism, Hinduism, Sanskrit, astrology,
and epics like the Ramayana and Mahabharata spread across Asia. William Dalrymple called this the creation of an “Indosphere.”
Economic dominance
According to economic historian Angus Maddison, in 1 AD, India contributed 33% of the global GDP (PPP basis), followed by China at 26%. Even in 1000 AD, India remained the largest economy with a 29% share.
India’s premier educational institutions like Nalanda, Vikramshila, and Takshashila thrived, reinforcing its status as a knowledge centre.
Decline and colonial exploitation
Islamic invasions disrupted India’s trade and education hubs, though empires like Vijayanagara and the Mughals revived commerce. By 1500 AD, India still had a 24.5% share of global GDP. The Mughals fostered trade in centres like Surat and Bengal, and India continued exporting textiles and spices.
Colonial interference began with the Portuguese and intensified under the British East India Company and the British Crown. Deindustrialisation, resource extraction, and the forced opium trade devastated India’s economy. British infrastructure—railways and ports—served extraction, not development. English replaced Persian, and colonial education created an elite disconnected from India’s roots.
By 1820, India’s share of global GDP had dropped to 16%. On the eve of independence in 1947, it had plummeted to just 4.2%.
Post-independence: recovery and reform
Post-1947, India adopted a socialist model emphasizing state-led development. While growth was slow, the Green Revolution transformed agriculture. The 1991 economic crisis marked a turning point: India liberalized its economy, opening up to trade, investment, and competition.
The IT and software boom, led by companies like TCS and Infosys, placed India on the global economic map.
India is now the third-largest economy (PPP), fifth in nominal GDP, and is forecasted to become the third-largest in nominal terms by 2026–27. what is important to note is that while it took India 67 Years for her to reach the first trillion, the second trillion took only eight years and the third trillion just 5 years. India was at the 12th rank in 1990 (in the order of the GDP size of the countries) and 13th in 2000, From there it jumped to 9th rank in 2020 and by 2024, it jumped four places to move to the 5th rank.
India also maintains a healthy debt-to-GDP ratio (57%), outperforming many developed economies like the US (113%) and Japan (228%).
Amritkal (2023–2047): India’s vision for the future
PM Modi declared 2023–2047 as Amritkal, a transformative period aiming to make India a developed nation. The focus areas include technological leadership, energy transition, maritime power, and robust welfare systems.
India aims to become:
- The Factory to the World (Manufacturing)
- The Office to the World (Services)
- The Digital Bus for the World (Technology)
- A Global Influencer and Knowledge Guru
Civilisational awakening
Alongside economic growth, India is undergoing a civilizational reawakening. The grand Ram Temple in Ayodhya, the rejuvenation of Varanasi, and global Sanatan Dharma initiatives like the BAPS Hindu Mandir in Abu Dhabi symbolize cultural revival.
Events like the Maha Kumbh Mela, which drew over 650 million participants, reflect the enduring power of Indian spirituality. The modern Indian is no longer apologetic about their roots but embraces a civilisational pride that transcends mere nationalism.
William Dalrymple wrote, “Over half the world’s population today lives in areas where Indian ideas of religion and culture are, or once were, dominant…” This civilisational influence is being rediscovered and reasserted.
A return to global centre-stage?
India’s trajectory suggests a return to its traditional place at the heart of global affairs—economically, culturally, and spiritually. It is poised to become a bridge between East and West, symbolizing cohabitation over clash, ideas over imposition.
Despite centuries of colonization, India has preserved its cultural DNA. With exponential ambition replacing incrementalism, Naya Bharat is not just rising—it is ready to lead. The question remains not whether India will become a Vishwaguru, but how soon.
(The writer is retired corporate professional in Mumbai)