From Arthashastra to Globalization: Ancient Indian Perspectives on Commerce and Economics

Abstract

Commerce and economics are as old as human civilization. The ways in which societies organize production, trade, and distribution of wealth have continuously evolved in response to political, technological, and cultural transformations. The modern global economy driven by free markets, global supply chains, and digital technologies is often perceived as entirely novel. However, a closer look reveals that many foundational principles of commerce and economics were articulated in ancient civilizations, including India. Ancient Indian scriptures such as the Vedas, Smritis, Arthashastra, Mahabharata, and Jataka tales contain rich descriptions of trade, taxation, labor organization, and ethical considerations in economic life (Sharma, 2010). This chapter explores the global shifts in commerce and economics across history while simultaneously situating ancient Indian contributions within this trajectory.