The economic activities of this period were quite diversified.
Agriculture, pastoralism, craft production and trade contributed to the economic development.
Agriculture
Agricultural activities increased during the Late Vedic period.
The Satapatha Brahmana mentions rituals related to ploughing undertaken by the kings.
This suggests the importance given to cultivation by the rulers, and the shift to agriculture to support the increasing population.
The god Balarama is depicted with a plough, which suggests the importance of cultivation.
The Vedic people cultivated barley and rice, and wheat.
Wheat was the staple food of Punjab region.
The Vedic people began to use rice in the GangaYamuna doab.
The use of rice, rather than wheat, is noticed in the Vedic rituals.
Pastoralism
Pastoralism continued to be important.
Cattle were considered sacred.
They became part of exchange and redistribution.
The offering of cattle as part of dakshina continued.
Pastoralism supplemented agriculture.
Craft Production
Arts and crafts proliferated during the Later Vedic age and craft specialization took deep roots, when compared to early Vedic period, since more occupational groups are mentioned in this period.
Evidence of iron work is noticed from about 1200 BCE.
Metals such as copper, tin, gold, bronze and lead are mentioned.
These metals were smelted and worked by specialized groups.
The copper objects were used for making weapons for war and hunting.
Weaving was undertaken by women.
Leatherwork, pottery and carpentry were well known.
Terms such as kulala referring to potters and urna sutra referring to wool appear.
Bow makers, rope makers, arrow makers, hide dressers, stone breakers, physicians, goldsmiths and astrologers are some of the specialized professional groups mentioned in the texts.
Professions such as physicians, washerman, hunters, boatman, astrologer and cook are mentioned.
References to the elephant are often found in the Atharva Veda, along with the elephant keeper.
The increase in references to such groups indicates a society in transformation.
The performers of Vedic sacrifices were also a type of service providers.
The priest played an important role in legitimizing the role of king through various rituals.
Wealth was measured in terms of cattle and animals.
There is a mention of offerings of 20 camels, 100 gold necklaces, 300 horses and 10,000 cows as dakshina.
Trade and Exchange
Trade and exchange had developed in the Later Vedic age.
The material culture found in the archaeological sites reveals the movement of commodities and materials.
Specialised caravan traders existed.
No evidence of coins has been found and therefore barter must have been the medium of exchange.
The introduction of coins took place after about 600 BCE.
