Chanakya’s Economic Ideas:

 A Timeless Guide to Production, Consumption, Trade and Commerce.

Chanakya has contributed numerous ideas on production, consumption as well as trade and commerce, which can be considered as crucial subjects of any economy. Below mentioned is a drama script elaborating the economic ide-as of Chanakya for those areas. 

The Royal Court of Chandragupta Maurya.

Chandragupta: Chanakya, though our kingdom has grown rapidly in recent years, there are some problems these days. Our people are demanding more goods and services, but our production is lower. And our trade with other kingdoms is quite insufficient.

Chanakya: Your Majesty, I have been thinking about these challenges and I believe that we can solve them by implementing a number of economic policies.

Chandragupta:  I would like to hear your ideas.

Chanakya: First, we need to increase our production of goods and services by providing incentives to farmers.

Chandragupta:  As you think how we can give incentives to farmers?

Chanakya: I suggest that the king should provide seeds to farmers and protect them from wild animals to increase production. And I encourage the state to support for production by providing irrigation and infrastructure facilities to the farmers.

Chandragupta: Ok, Have you any solutions to manage the higher demand for goods and services?

Chanakya: Yes Your Majesty, We should encourage our people to manage their consumption carefully and to save money.  

Chandragupta: Chanakya, I can’t understand what you tell, can you please explain it further?

Chanakya: I think consumption is based on these four principles of Dharma (righteousness), Artha (material prosperity), Kama (pleasure), and Moksha (liberation from the cycle of death and birth). I advocate for moderate consumption, promoting a simple life while discouraging excessive indulgence. I also introduce policies to ensure the quality of goods and services.

Chandragupta: Ok Chanakya, I got good idea about that, I have one more question, can you tell me how to improve our trade with other kingdoms?

Chanakya: We need to improve our trade with other kingdoms by importing goods that we cannot produce by ourselves and by exporting goods that we can produce in excess.

Chandragupta: Can I know, what should I do to promote our trade  with other kingdoms.

Chanakya: I believe in substantial state involvement in promoting trade, including the development of infrastructure like roads and ports. And I emphasized the government’s role in regulating trade to benefits for all parties.

Chandragupta: These are all excellent ideas, Chanakya. I authorize you to implement them immediately. And I believe that your ideas can be used to other kingdoms as well. So, I would like to give permission to spread your knowledge to others.

Chanakya: Thank you, Your Majesty. I will do my best to represent our kingdom.

According to this drama script, it can be indicated that Chanakya’s economic knowledge about these areas are not only applicable for today’s context but also essential to modern economic considerations.

Prepared by: Amalka Indumini and Iresha Achini

Sources:

·      Dr.Anil.M.Ramteke. “Economic strategy of Chanakya: in significance of Modern Era.” ISOR Journal of Economics and Finance (ISOR-JEF), 13(4), 2022, pp. 31-35.

·        https://ww.slideshare.net/nabilakm1/economic-ideas-of-kautilya

Images:

·         https://ar.javamem.com/pictures/ancient-indian-marketplace

·         https://www.thecollector.com/why-was-the-roman-indian-ocean-trade-important/