The “Golden Peak” of India’s Economic Development during the Mughal Empire

The Mughal Empire was the last feudal dynasty in Indian history and, despite its foreign origin, occupied a pivotal position in India’s long historical development. Under Mughal rule, India reached the “golden peak” of the feudal system, characterized by territorial unification, political stability, sustained economic expansion, and remarkable achievements in the cultural and social spheres. Drawing on reliable historical sources, this article examines the “golden peak” of India’s economic development during the Mughal period, with particular attention to the decisive and well-conceived economic reforms implemented by emperors such as Akbar, Jahangir, and Shah Jahan. These policies generated outstanding achievements across multiple economic sectors and distinguished the Mughal economy from those of earlier Indian feudal dynasties. At the same time, the study analyzes the principal factors that contributed to this economic “golden peak” while critically assessing the causes of the subsequent economic decline of the Mughal Empire, a process that facilitated the penetration of early capitalist economic forces through the East India Companies and ultimately paved the way for colonial domination in India.