In the later Vedic period, progress was seen in all fields such as agriculture, industry and trade. In this period, a mixed economy developed. During this period there was a transition from a simple tribal economy to a diversified economy.
Agriculture
- Agriculture was the primary occupation of Aryans.
- The use of heavy ploughs pulled by 6, 8, 12 and 24 bullocks showed a significant growth of agriculture.
- People of the later Vedic period started a permanent agricultural lifestyle in the fertile and humid Gangetic land.
- The crops produced in this period were barley, rice, wheat, rice (vrihi), millet and sesame.
- The use of bullocks was common in ploughing agricultural land.
- Oilseeds, pulses, and cotton were also grown.
- Rainfall was the primary source of water for agriculture.
- Irrigation techniques were not largely developed to support agriculture.
Info: During this time, a remarkable change took place in the socio-economic field.
Land ownership:
- In the later Vedic period, a new ownership elite emerged in the agricultural sector.
- The collective or community-based ownership of land changed and individual ownership.
- As a result, the collective economy changed and took the form of a more complex economy.
- The concept of private property was developed mainly for land.
Animal husbandry
- Animal husbandry was an important part of their economy.
- Some groups of people reared animals. The number of these groups gradually decreased.
- People attempted to tame elephants and use them for war.
- Cattle were a measure of wealth.
- Cattle were used for ploughing fields, producing milk, and as draught animals.
- Domesticated animals were horses, sheep, goats, and buffaloes.
- Horse breeding was started for warfare and transportation.
Use of iron
- In the later Vedic period, the use of iron can be seen mainly in the manufacture of axes, hatchets, etc. used for deforestation.
- The use of iron ploughshares, ploughs, and sickles was also found.
- Some new words like ‘Syamayas‘ or ‘Krshnayas‘ are mentioned in the Vedic literature of this period. These words indicate the use of iron-made machinery by the Aryans in the later Vedic period.
Info: The word ‘Ayas’ means iron.
Trade and Commerce
- Due to the huge improvement in the communication system, both internal and external trade expanded in the later Vedic period.
- The ‘Brahmanas’ and ‘Samhitas’ mention the maritime trade of this period.
- Rivers were used for waterborne trade.
- Caravans were used for land-based trade.
- In this period, traders formed guilds or associations.
- Some words related to trade and commerce were found during this period.
- The word ‘Vanija‘ is mentioned in the Yajurveda, which means ‘son of a merchant’. This suggests that the profession of a merchant was hereditary at that time.
Info: As a result of the success of the agricultural economy, a merchant class emerged in the society at this time.
Medium of exchange
- The people of the later Vedic period were familiar with the barter system. Goods were exchanged through barter.
- The merchant community used metal ingots of a certain weight and size as a medium of exchange.
- The unit of weight was the mana and Krisnyal.
- The gold coin used in the Rigvedic period was also in use in this period.
- In later Vedic literature, there is mention of gold ingots of a value of ‘Krisnyal’ i.e. one, ‘Shatamana’ equal to one hundred Krisnyals, ‘Nishka’ equal to three hundred and twenty Krisnyals. However, these are not coins in the true sense.
Info: The punch-marked coins were found before 600 BC.
Trade centers: Places like Kosambi, Varanasi, Hastinapur, Rajgir, Mathura, Sravasti, Taxila etc. became the main centers of industrial trade.
Crafts
- Various types of craftsmen emerged in the society to meet the daily needs of people.
- In the 30th Mandala of the Vajasaneyi Samhita, besides the potter, 18 other types of artisans are mentioned.
- As professions became hereditary and class of artisans emerged.
- Among them are Karmakar (blacksmiths), Kaulal (potter), Manika (jeweler), Yuka (arrow maker), Dhanushka (bow maker), Hiranyakara (goldsmith) and Rathkara (chariot maker) etc.
- Textiles included wool, silk, cotton artisans and flax.
Info: Many technical industries and artists are mentioned in the literature of the later Vedic period.