From the end of the eighteenth century, two global processes began to transform livelihoods and living conditions in the South Asia region. These were the rise of British colonial rule, and the integration of the region in the emerging world markets for goods, capital, and labour services, or globalization. Two hundred years later, India was the home to many of the worlds poorest people. India was also one of the fastest-growing emerging market economies of the world. Does a study of the past help to explain the paradox of growth amidst poverty? The book claims that the roots of the paradox did go back to Indias colonial past, when internal factors like geography and external forces like globalization and imperial rule created prosperity in some areas and poverty in others. This revised edition of a popular textbook sets out the key questions that a study of long-run economic change in India should begin with, shows how historians have answered these questions, and where the gaps remain. An essential guide for students of economics, history, and development studies, and a profitable read for anyone interested in Indias economic past.