India is one of the most populated countries in the world and was famously known as the golden bird. It was known for its rich cultural heritage and some of the world’s most significant educational institutions. Over the countless decades and centuries, the invaders exploited the resources for their advantage. At the decline of the independence in 1947, it was left backward with one of the poorest economies of the world of that time. The richness of erstwhile India, the status of the golden bird, the sacred intellectual space that India occupied has only textual value for the present generation. Through this academic paper, an attempt has been made to address the following questions: what was the state of the economy of India during the pre- and post-independence period, how has India transformed herself from one of the most impoverished economies in 1947 to currently the third-largest economy in the world, and how is the current economic and non-economic status of India.