Why India was a global economic power!!
India produced classical civilisations that generated wealth in huge amounts. Between 1st and 17th century CE, India is estimated to have had the largest economy of the ancient and medieval world, controlling between one-third and one-fourth of the world’s wealth. In simple terms, India had the world’s largest and strongest economy for over 1,000 years – at least. It was second to none, not even the current American economy.
It was only after the advent of the “British raj” that Indians saw decline and eventually a catastrophic collapse of their wealth, thereby leading to extreme poverty. Living under conquerors, Indians were made to believe that the knowledge and wisdom of their ancestors no longer stood the test of time. While India did bounce back with a growing economy after the 1990s, they’ve done so by mostly following “modern” management systems. Unfortunately, it’s fast becoming evident that modern management thinking and concepts are ill-equipped to handle the complex challenges in emerging global economic scenario.
If global economies continue to be in doldrums, infested by adverse problems that are monumental in nature, it has definitely got to do with the prevailing modern management practices. Yet, even the best management schools don’t seem to be even remotely interested in questioning prevailing management assumptions, presumptions, or practices. Believing that everything “modern” is good and everything ancient is obsolete, we’ve been busy detaching ourselves from emotions to adhere to the commands of our superiors in the best interests of our careers at the cost of severe disasters that are also ecological.
Unlike modern management systems, Indian management systems, enumerated in various Vedic texts like Arthashastra, have been followed—even by the Mughals—for at least over 2,000 years and fared much better. Isn’t it time we looked back into our history and searched for the wisdom of our Vedic ancestors to provide management solutions?