Question

What will be the short conclusion on Vedic period in economy life?

Answer 1

Trade and Commerce:

With the growth of civilization, the volume of trade and commerce had increased by leaps and bounds. Both inland and overseas trades were developed. Inland trade was carried on with the Kiratas inhabiting the mountains. They exchanged the herbs for clothes, nattresses and skins. The people became familiar with the navigation of the seas. Regular coinage was not started.

The coins which were in circulation were “Nishka”, “Satamana” and “Krishnala”. The unit value of goods was a gold bar called “nishka” weighing three hundred and twenty ratis, which was also the weight of a satamana. A ‘Krishnala’ weighed one rati, i.e. 1.8 grams. There was a class of merchants called ‘Pani’ who controlled the trade. References to “ganas” or corporations and the “sreshthins” clearly speak of the formation of guilds or corporations for facilitating trade and commerce. Usuary and money lending was also practiced in this period.

Occupation:

The emergence of caste system brought varieties of means of livelihood. There are references about money lenders, chariot makers, dyers, weavers, barbers, goldsmiths, iron smiths, washer men, bow makers, carpenters, musicians etc. The art of writing probably developed in this period. The use of silver was increased and ornaments were made out of it.