Nowadays the rupees is strengthening against U.S. dollars. Today 1 U.S. dollar = 39.1600 Rs. ( 1 Rs. = 0.0255 USD).
But actually when India got independence the value of rupee was so high, by that time 1 Rs. was equal to 1.2 USD .
India was one of the oldest country that had the practice of using coins. In 1600 when they estimated the total value of Akbhar's possession it was around £17.5 millions which is more than the total treasury of Great Britain in 1800, which totaled £16 million. In 1700 the Mughal empire expanded to almost 90% of south Asia and a uniform administrative tax was enforced. Annual revenue reported to exceeded £100 million in 1700 (twice that of Europe then). Thus, India emerged as the world's largest economy followed by China and France. In 1725 it went to the second place next to china in world's economy.
In 1700 the India's percentage in the overall economy is around 24.4% which more than the Europe's share of 23.3%. But it was during the British rule India lost its pride and in 1952 after India's independence the amount contributed from India to the overall percentage is only 3.8%. According to economic historian Angus Maddison in his book "The World Economy: A Millennial Perspective", India had the world's largest economy in the 1st century and 11th century, with a 32.9% share of world GDP in the 1st century and 28.9% in 10th century.
Due to the collapse of the central authority of Qing dynasty during 1875 and 1900, china came down to second spot and USA took the lead and India was pushed to 5th place. In 1950, India went to 7th spot next to USA, USSR, UK, China, France and Germany. In 2005, India's economy was $3,815.6 trillion which accounts for a 6.3% share of world income. This is how India's present condition evolved. After Independence Indians were hit by many disasters and many thought India would not survive but India made their beliefs false and survived, and now it started to compete with the world. Its our time to stand with other Indians to fight and win back the lost pride of India.
