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India's share of global industrial output declined from 25% in 1750 to 2% in 1900. [14] From 1600 to 1871 the ratio of GDP per capita in India to that in Britain fell from more than 60% to less than 15%. [16] India's national debt ballooned under British rule, and half of India's revenue was being siphoned to foreign countries, primarily England.
The global contribution to world's GDP by major economies from 1 CE to 2003 CE according to Angus Maddison's estimates. [1] Up until the 18th century, China and India were the two largest economies by GDP output. Maddison's Estimates GDP per capita in the Indian sub-continent, since 1600 [2]
Goedele De Keersmaeker estimated the GDP of the British Empire using Angus Maddison's data. Keersmaeker estimated that the British Empire's share of world GDP was 24.28% in 1870 and 19.7% in 1913. The empire's largest economy in 1870 was British India with a 12.15% share of world GDP, followed by the United Kingdom with a 9.03% share. The ...
Nearly 65% of India's population is rural, [99] and contributes about 50% of India's GDP. [100] India faces high unemployment, rising income inequality, and a drop in aggregate demand. [101] [102] According to the World Bank, 93% of India's population lived on less than $10 per day, and 99% lived on less than $20 per day in 2021. [103]
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
Maddison's estimates of global GDP, [6] China and India being the most powerful until the 18th century. Bengal Subah was valued 50% of Mughal India's GDP.. 1500–1600 Indian subcontinent, mostly under the Mughal Empire (after the conquest of the Delhi Sultanate and Bengal Sultanate) became economically 10 times more powerful than the contemporary Kingdom of France, [7] contained an estimated ...
Evolution of the GDP per capita for selected European countries between 1830 and 1890, according to Bairoch. The following estimates were made by the economic historian Paul Bairoch. [24] Unlike other estimates on this page, the GNP (PPP) per capita is given here in 1960 US dollars. Unlike Maddison, Bairoch allows for the fluctuation of borders ...
This is an alphabetical list of countries by past and projected gross domestic product (nominal) as ranked by the IMF. Figures are based on official exchange rates, not on the purchasing power parity (PPP) methodology.