Role of Indian heritage in production and consumption?

Answer 1

In the early days Indian economy was totally based on agriculture. People used to produce whatever they required for their self-consumption. There was no need for sale or exchangeof goods. But later on, needs of the people increased and so did the production. Peoplebegan to specialise in producing different items of luxury and daily use and did not haveskills and time left for producing others items of their use. However, they were able to produce surplus items with increase in their efficiency. So, a system of exchanging surplus items with the items of need was evolved. This was the beginning of trade. It is normally understood that India has progressed a great deal in the modern time, especially after independence, in the field of business and trade. Pt. Jawaharlal Nehru used to refer to factories and industries as 'temples of modern India'. India has become a strong country in

terms of industrial growth so much so that we are able to produce almost all goods of our use indigenously. This however, does not mean that there was no growth and development in these fields in the past in India. In fact, India has a very rich heritage in trade and commerce,

which can make any Indian feel proud of.

by Mercury infotech Chandigarh