In recent decades, private investment has led to an economic resurgence in India. But this is not the first time the region has witnessed impressive business growth. There have been many similar stories over the past 300 years. India's economic history shows that capital was relatively expensive. How, then, did capitalism flourish in the region? How did companies and entrepreneurs deal with the shortage of key resources? Has there been a common pattern in responses to these issues over the centuries? Through detailed case studies of firms, entrepreneurs, and business commodities, Tirthankar Roy answers these questions. Roy bridges the approaches of business and economic history, illustrating the development of a distinctive regional capitalism. On each occasion of growth, connections with the global economy helped firms and entrepreneurs better manage risks. Making these deep connections between India's economic past and present shows why history matters in its remaking of capitalism today.

Studying firms and entrepreneurs over three centuries, this book unravels the historical roots of the impressive business growth witnessed in contemporary India.

Illustrated With Rare Pictures, This Authoritative History Of Indian Business In The Modern Period Charts The Course Of The Transition Of Indian Business From Mercantile Capitalism To Industrial Capitalism. This Book Is One Of The First To Provide An Analysis Of The Roots Of Modern Business Practices In India And Of The Forces That Shaped The Features And Characteristics That Distinguish Business Today.

Bringing together rare and important texts illustrating the history of Indian business, this anthology highlights the tremendous diversity of forms, ethnic and regional affiliations, cultural practices, strategies, and types of organization that characterize the role played by Indian business in the making of modern India.

The death of the Mughal emperor Aurangzeb in 1707 until the annexation of Maratha territories by the British East India Company in 1818 was a period of transition for the economy of India. This book focuses on these transitions, and shows how a study of this period of Indian history contributes to a deeper understanding of the long-run patterns of economic change in India. Momentous changes occurred in business and politics in India during the eighteenth century - the expansion of trade with Europe and the collapse of the Mughal Empire, resulting in the formation of a number of independent states. This book analyses how these two forces were interrelated, and how they went on to change livelihoods and material wellbeing in the region. Using detailed studies of markets, institutions, rural and urban livelihoods, and the standard of living, it develops a new perspective on the history of eighteenth century India, one that places business at the centre, rather than the transition to colonial rule. This book is the first systematic account of the economic history of early modern India, and an essential reference for students and scholars of Economics and South Asian History.

This groundbreaking study examines how the East India Company founded an empire in India at the same time it started losing ground in business. For over 200 years, the Company’s vast business network had spanned Persia, India, China, Indonesia and North America. But in the late 1700s, its career took a dramatic turn, and it ended up being an empire builder. In this fascinating account, Tirthankar Roy reveals how the Company’s trade with India changed it—and how the Company changed Indian business. Fitting together many pieces of a vast jigsaw puzzle, the book explores how politics meshed so closely with the conduct of business then, and what that tells us about doing business now. ‘One of the first major attempts to tell the company’s story from an Indian business perspective’—Financial Express

This new edition of An Economic History of Early Modern India extends the timespan of the analysis to incorporate further research. This allows for a more detailed discussion of the rise of the British Empire in South Asia and gives a fuller context for the historiography. In the years between the death of the emperor Aurangzeb (1707) and the Great Rebellion (1857), the Mughal Empire and the states that rose from its ashes declined in wealth and power, and a British Empire emerged in South Asia. This book asks three key questions about the transition. Why did it happen? What did it mean? How did it shape economic change? The book shows that during these years, a merchant-friendly regime among warlord-ruled states emerged and state structure transformed to allow taxes and military capacity to be held by one central power, the British East India Company. The author demonstrates that the fall of warlord-ruled states and the empowerment of the merchant, in consequence, shaped the course of Indian and world economic history. Reconstructing South Asia’s transition, starting with the Mughal Empire’s collapse and ending with the great rebellion of 1857, this book is the first systematic account of the economic history of early modern India. It is an essential reference for students and scholars of Economics and South Asian History.