This book offers a major new economic history of India from the reign of Akbar in the sixteenth century to India's post-independence integration into the global economy. Using concepts and theories from economics and economic history alongside extensive new data, Bishnupriya Gupta builds a new framework for understanding the economic impacts and legacies of British rule. She charts India's transition from precolonial economy to colonial rule and evaluates its economic performance from a comparative perspective, particularly in the context of the Great Divergence between Europe and Asia. Finally, she examines India's post-independence economy and the evolution of social and economic inequality through to the turn of the twenty-first century. By taking a long view, the book sheds new light on the persistent effects of historical institutions as well as the impacts of policy-driven changes. It will be essential reading for anyone seeking to understand the long-run evolution of the Indian economy.

‘This book is a must-read for anyone who has ever wondered whether British colonialism led to India’s de-industrialization, whether independence made a difference to economic progress, and how much of India’s post-colonial economic progress or stagnation can be attributed to its historical circumstances. Written by one of the leading academic experts on India’s economic history, this book provides detailed data-driven answers to all these questions and more. Notable features include an integrated analysis of the colonial and post-colonial periods, a detailed discussion of regional, sectoral, caste and gender inequality, and an insightful comparison with the colonial and post-colonial experiences of Korea and Taiwan.’

Lakshmi Iyer - Professor of Economics and Global Affairs, University of Notre Dame

‘The book is a masterly study of colonial India. Drawing on multiple data sources, and casting aside prior biases so visible in works on colonialism, Bishnupriya Gupta gives a sweeping account of India’s economic journey, shedding light on the slowdowns and pickups over centuries. Whether your interest be in history or understanding contemporary India, this is a book well worth reading.’

Kaushik Basu - Professor of Economics and Carl Marks Professor of International Studies, Cornell University

‘This book is a rare contribution to the economic history of India. Meticulously curated data is interspersed with big ideas and major political changes over four centuries. Bishnupriya Gupta manages to constantly connect the past to current debates on development policy.’

Rohini Somanathan - Professor of Economics, Delhi School of Economics