People often say that India was once a golden bird and its wealth vanished with the arrival of the Mughals, but many historical sources refute this. In fact, it was during the Mughal rule that India reached its highest levels of economic and cultural prosperity. Especially the period from Akbar to Shahjahan is considered to be the strongest economic period in Indian history.
According to historians, the reign of Shah Jahan was the time when India was the largest and richest economy in the world, but it is also true that the foundation of this prosperity was laid by Akbar. Akbar strengthened the administrative structure, provided relief to the farmers, simplified the revenue system and maintained law and order throughout the empire. This is the reason why India remained on top in the world economy for the next 150 years.
Golden Age of Mughal Era
Harmony existed between different castes and communities during the reign of Akbar. Trade flourished, and artisans and artists received patronage. The internal markets of the country became very powerful. This was the time when India gained international fame as a prosperous, well-organized and culturally advanced nation. Jahangir and Shahjahan further strengthened the empire on this foundation.
Elon Musk and Akbar’s wealth
According to the reports of Aberdeen Asia and Money.com, as of today, Akbar’s wealth was $21 trillion, which is approximately Rs 1750 lakh crore in Indian currency. According to Forbes, Elon Musk’s net worth in October 2025 was around $500 billion, which is approximately Rs 41-42 lakh crore in Indian currency. Thus, Elon Musk’s wealth is much less than Akbar’s wealth.
India’s economic power – a quarter of the world’s wealth
Many historians estimate that Mughal India alone accounted for about 25 percent of the world’s total economy. It is considered equivalent to the combined economic power of today’s United States and China. At that time, most of the European countries were in a very bad condition and were amazed by the prosperity of India. India, the land of glory in the eyes of foreign travelers
Foreign travelers visiting India during the Mughal period were amazed by its grandeur. The French traveler Tavernier wrote that there was no shortage of wealth in India and its markets were the richest in the world. François Bernier called India heaven on earth and said that the goods here were more beautiful and cheaper than the goods of Europe. The English traveler Thomas Roe was astonished to see the grandeur of the Mughal court and wrote that even the kings of Europe could not match this grandeur.
Shahjahan and the extraordinary grandeur of the Mughal court
Shahjahan’s court was famous all over the world for its grandeur, beauty and luxury. His famous Peacock Throne made of gold and precious gems is estimated to be worth around Rs 135 billion in today’s currency. Many travelers also wrote that Shah Jahan used to lavish diamonds and pearls on his guests on special occasions. According to the official website of the Taj Mahal, the revenue from land alone during the reign of Shah Jahan was equal to 20.75 million pounds.
How did India become so rich?
India’s prosperity increased rapidly during the Mughal period due to many reasons. The fertile lands produced bountiful crops, the skills of its artisans brought textiles, metalwork, embroidery and silk to worldwide recognition, and the spice trade made India a world leader. India was rich in natural resources, and almost everything was produced within the country, which increased self-reliance.
