In July 2005, speaking at Oxford, Manmohan Singh cited Angus Maddison’s estimate that India’s share of the world economy had fallen from 22.6 per cent in 1700 to 3.8 per cent in 1952. The number appeared to confirm a familiar nationalist narrative of colonial impoverishment. But Singh complicated the story. In the same speech, he argued that independent India had inherited not only the economic consequences of colonialism but also institutions and political ideas that continued to shape the republic.