"The Mughals came to India as conquerors but remained as Indians not colonists. They subsumed their identity as well as the group's identity with India and became inseparable from it, says professor Mukhia, giving rise to an enduring culture and history.
In fact, Mukhia goes on to say that this issue of Mughals being foreign was never a discussion point till quite recently, so well had they integrated and assimilated into the country they had made their own.
There was no reason for it either since Akbar onwards all were born in India with many having Rajput mothers and their "Indianness" was complete.
Babur had invaded India at the behest of Daulat Khan Lodi and won the kingdom of Delhi by defeating the forces of Ibrahim khan Lodi at Panipat in 1526 AD. Thus, was laid the foundation of the Mughal Empire.
Most of the Mughals contracted marriage alliances with Indian rulers, especially Rajput. They appointed them to high posts and the Kachhwaha Rajput of Amber normally held the highest military posts in the Mughal army.
It was this sense of identification with the Mughal rulers that led the Indian sepoys who stood up in 1857 AD against the British East India Company in the first war of Indian Independence, to turn towards the aged, frail and powerless Mughal Emperor, Bahadur Shah Zafar, coronating him as emperor of Hindustan and fighting under his banner.
From 16th century to 18th century, the Mughal kingdom was the richest and most powerful kingdom in the world and as French traveller Francois Bernier, who came to India in the 17th century, wrote, “Gold and silver come from every quarter of the globe to Hinduostan.”
This is hardly surprising considering that Sher Shah, and the Mughals had encouraged trade by developing roads, river transport, sea routes, ports and abolishing many inland tolls and taxes. Indian handicrafts were developed. There was a thriving export trade in manufactured goods such as cotton cloth, spices, indigo, woollen and silk cloth, salt etc.
The Indian merchants trading on their own terms and taking only bullion as payment, leading Sir Thomas Roe to say that "Europe bleedeth to enrich Asia".
This trade was traditionally in the hands of the Hindu merchant class who controlled the trade. In fact, Bernier wrote that the Hindus possessed "almost exclusively the trade and wealth of the country". The Muslims mainly held high administrative and army posts.
A very efficient system of administration set up by Akbar facilitated an environment of trade and commerce.
It was this which led the East India Company to seek trade concessions from the Mughal empire and eventually control then destroy it.
A very interesting painting in possession of the British Library painted by Spiridione Roma, named The East Offering Her Riches to Britannia, dated 1778, shows Britannia looking down on a kneeling India who is offering her crown surrounded by rubies and pearls. The advent of the famous drain of wealth from India started with the East India Company not the Delhi Sultanate or the Mughals.
Edmund Burke was the first to use the phrase in the 1780s when he said, India had been "radically and irretrievably ruined" through the company’s "continual Drain" of wealth.
Let us examine India’s economic status prior to its becoming a British colony.
The Cambridge historian Angus Maddison writes in his book, Contours of the World Economy 1–2030 AD: Essays in Macro-economic History, that while India had the largest economy till 1000 AD (with a GDP share of 28.9 per cent in 1000AD) there was no economic growth. It was during the 1000 AD-1500 AD that India began to see a economic growth with its highest (20.9 per cent GDP growth rate) being under the Mughals. In the 18th century, India had overtaken China as the largest economy in the world.