Economy of india: The Indian economy was the largest

The Indian economy was the largest and most prosperous throughout world history and would continue to be under the Mughal Empire, up until the 18th century. [115] Sean Harkin estimates that China and India may have accounted for 60 to 70 percent of world GDP in the 17th century. The Mughal economy functioned on an elaborate system of coined currency, land revenue and trade. Gold, silver and copper coins were issued by the royal mints which functioned on the basis of free coinage. [116] The ... India ’s economy continues to grow at a steady and confident pace, standing out as the fastest growing major economy in the world. Gross Domestic Product (GDP) is a measure of size and health of the economy . It is the total value of all the goods and services produced within a country. In 2024–25, real GDP growth was estimated at 6.5 per cent. Chief Economic Advisor V Anantha Nageswaran expressed confidence in India 's economic resilience, projecting real GDP growth to reach 7% in FY26. He highlighted recent upgrades by global rating agencies, suggesting India is poised to soon achieve an 'A' rating. Nageswaran also addressed concerns about credit growth by emphasizing overall resource mobilization. India is set to dominate the global economic landscape, maintaining its status as the fastest-growing large economy for the next two fiscal years. The January 2025 edition of the World Bank’s Global Economic Prospects (GEP) report projects India 's economy to grow at a steady rate of 6.7% in both FY26 and FY27, significantly outpacing global ...