Our then finance minister Shri P. Chidambaram once stated India has to get out of its 5000 years of poverty….. He and loads of other Indians(esp NRI's) seem to have this view of forever poor India…..
Hmm forever poor India? So why was entire Europe desperately trying to find a sea route to Indica in the 14-15 centaury AD…. Why were looters and raider from the Arabian land mass forever attacking this poor country? I guess our western educated foreign minister never got time to ponder over these questions…
Now some historical FACTS …..From 1 AD till 1820 AD India accounted for 30% of worlds GDP…. http://en.wikipedia.org/wiki/List_of_regions_by_past_GDP_(PPP)
To put this is perspective USA at its peak accounted for 27.3% of worlds GDP in 1950….On further analysis we see that from 1700 to 1913 the greatest transfer of wealth in the world took place between India and British Empire… India’s GDP share fell from 25% to 7% and Britains went up from 2.9% to 21.1% (and this was the time when world GDP increased substantially)..... The mighty England couldn’t hold on to this prosperity for long and passed it on to USA by 1950….
Now if you ask any of the new age historians they would tell you …. The reason for sudden rise in British prosperity was industrial revolution….Bull shit…. The reason was the systematic destruction of Indian economy (http://india_resource.tripod.com/eastindia.html)…. Opium selling to China…. Wealth from new found lands in Australia, Canada and America’s and slave labour from Africa and new found lands….. So Mr Chidambaram India’s rise now is not an historical aberration but it is a climb back to the historical reality.
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