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Faculty of Management Studies, University of Delhi

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The proposed Seminar aims at having an understanding of the ancient roots of modern business practices in India. The deliberations will focus on the course of the transition of business from mercantile capitalism to industrial capitalism. Along with the family – run business and individually owned business enterprises, ancient India possessed a number of other forms of engaging in business or collective activity, including the gana, pani, puga, vrata, sangha, nigama and sreni.

According to economic historian Angus Maddison in his book “The World Economy: A Millennial Perspective”, India had the world’s largest economy from the first to the 18th century, with a (32.9%) share of the world GDP in the 1st century to (28.9%) in 1000 AD with (24.4%). India was always perceived in the western world as a country known for spiritualism and philosophy, art and letters. Its material development and pursuit of science, technology and business were systematically ignored in western treaties on the subject.

The present two day seminar will focus on the rise and fall of Indian business through ages starting from pre colonial period to post independent period.