Published Paper Details:

ABSTRACT Purpose: The purpose of the study is to explore the ethical foundations of economic thought in Indian tradition and their relevance to modern Indian society, and contribute to a broader understanding of moral economy as a viable alternative to purely market-driven models. Methodology: Qualitative, text-based analysis is used. Primary sources & Secondary sources i.e. Arthashastra and selected Gandhian writings are studied in depth to identify normative economic prescriptions and moral constraints. Findings: Kautilya and Gandhi represent two poles of the Indian moral economy. Kautilya's ideal is a 'powerful state ensuring economic welfare', whereas Gandhi's is a 'self-regulating society of moral individuals. Yet both agree that a society's prosperity must be aligned with ethical duties and human dignity. This structured comparison helps us to see how moral underpinnings shift from a top-down vision to a grassroots one, even as the goal social welfare and ethical order remains. This historical trajectory shows that Indian thought has consistently emphasised that economic systems should be based on ethical principles, social welfare, human dignity and sustainable development. This study shed light on the enduring objectives of duty-bound wealth creation, distributive justice and moral management, and highlight the Indian moral-economy over the centuries and its relevance in the present times. Research Limitations / Implications: The reliance on text analysis and translation variations limits empirical validation. Future research may test the applicability of these ethico-economic frameworks through fieldwork in corporate social responsibility initiatives and pave the way for policy experiments based on India's intellectual heritage.