HistoriCity: How ancient India became the ‘Golden Sparrow’ through gold trade
Ancient India earned the moniker 'Golden Sparrow' due to its extensive trade in gold, driven by high demand for its spices, textiles, and gems. Religious texts like the Rig Veda elevated gold to a divine status, embedding its cultural and spiritual significance. Despite limited domestic gold sources, India attracted vast quantities of gold from Roman and Mediterranean traders, leading to significant historical economic exchanges.
- ▪The Rig Veda describes the universe's creation in a 'womb of gold,' highlighting gold's sacred status in ancient Indian thought.
- ▪India imported gold through trade with Rome and other Western empires in exchange for spices, textiles, and gems, especially via the Malabar Coast.
- ▪Roman demand for Indian goods was so high that it led to massive outflows of gold from the empire, akin to India's modern import challenges.
- ▪Ancient Indian texts like the Arthashastra and Gandhavuha Sutra document sophisticated methods of gold extraction and valuation.
- ▪Despite the rise of Buddhism and Jainism, the veneration of Lakshmi, the goddess of wealth, persisted in various forms across religious traditions.
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HistoriCity: How ancient India became the ‘Golden Sparrow’ through gold tradeFrom the Rig Veda to Roman trade, India’s cultural and religious bond with gold has shaped demand for centuries despite soaring prices.Updated on: May 17, 2026 3:07 PM ISTBy Valay SinghShare viaCopy link If we are to go by the lessons of history, Prime Minister Narendra Modi’s appeal to citizens not to buy gold is likely to end in bitter disappointment. Indians have it encoded in their religious texts, such as the four Vedas, that gold is a divine element, and possessing gold and gifting it away would even lead to a splendid next life.
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