Why were merchants attracted to Buddhism in ancient India?

My recent visit to India was motivated in part by a desire to visit some ancient Buddhist caves that were excavated with the help of donations from merchants at a time when India was at the centre of a globalized world. My interest was aroused by reading of William Dalrymple’s book, The Golden Road, during a previous visit to India.

My interest was heightened by further reading, including a book chapter by Osmund Bopearachchi entitled ‘Indian Ocean Trade through Buddhist Iconographies’. (Please see references at the end of this essay.)

Ajanta caves

One of the highlights of my trip was visiting the Ajanta caves, which were hewn out over the period from 200 BC to 650 AD. The Ajanta caves are shown in the photo at the top of this post.

Here is an extract from Dalrymple’s discussion of the murals in Ajanta caves:

“The murals indicate that, by the time of Ajanta, India was not some self-contained island of Indianness, but already a cosmopolitan and surprisingly urban society full of traders from all over the world; in many cases it was the traders themselves who actually paid for these murals, such as the rich merchant Ghanamadada who, according to an inscription, donated the funds for Cave 12. To some extent, the murals may also have reflected the merchants’ taste, which could explain the near absence of asceticism or even monasticism in the murals.”

Some of the photos I took of murals at Ajanta caves are shown below.

 

I invite readers who are interested in finding out more about other historical sites I visited in India and Sri Lanka to take a look at a series of posts on my Facebook timeline, beginning on 12 April 2026.

Why was Buddhism attractive to merchants?

Even after my visit to the Ajanta caves, I did not fully understand why merchants supported Buddhism in ancient India. I reasoned that the occupation of being a merchant would make a person disinclined to accept a religious doctrine which denies their own existence. Idle people may ponder their own existence, but merchants would be expected to be too busy pursuing their occupation. So, wouldn’t Buddhism’s “no self” doctrine be unpalatable to merchants?

My first step toward a better understanding of this question was to revisit the discussion of the “no self” doctrine in a book on Indian philosophy by Peter Adamson and Jonardon Ganeri. The authors note that in proposing the “no self” idea the Buddha was signalling his disagreement with the Brahmanical tradition which made the self a central pre-occupation. They explain the role of “no self” in the context of the Buddha’s teaching that craving is the source of human suffering. He argued that you can avoid being attached to the things that falsely seem to benefit you if you give up on the idea that you have a self that can be benefited.

The authors note that in rejecting the idea of a centre of identity that underlies all awareness, there is still a lot of room for Buddhists to accept less metaphysically ambitious notions of the self. However, they add:

“Yet it seems clear that the Buddhists did want to critique and revise our everyday assumptions about the reality of persons, and other things.” (p. 53)

Buddhists believe that it is only by convention that we refer to a person as an entity. There is nothing to a person over and above a conglomeration of momentary bodily states, feelings and perceptions. The authors sum up:

“So here we have arrived at what may be the most notorious philosophical doctrine of Buddhism, that we are nothing more than flowing streams with no firm identity from time to time.” (p. 54)

That statement reminds me that Richard Campbell used the metaphor of flowing streams to make the point that it is possible to distinguish between the contents of one’s consciousness and one’s identity:

“The same river can flow through different places, and I remain the same person through the many phases of my life.” (Campbell, p. 292).

However, that is a digression. (I have previously discussed Richard Campbell’s views here and here.)

Although they argue that it is only by convention that we refer to a person as an entity, Buddhists have no problem in acknowledging that acceptance of such “conventional truth” is necessary for people to function in everyday life.

The Buddha believed strongly that actions have consequences – the causes that you create are reflected in your subsequent experiences. That view – and the Noble Eightfold Path more generally – seems to me to presuppose that, in the world as we experience it, individuals exist and make choices. It would not be possible to choose the right view; right intention; right speech; right action; right livelihood; right effort; right mindfulness; and right concentration if you did not have individual agency.

I have just remembered that in writing about individualism some years ago, I noted that the Buddha did not oppose self-love when given an opportunity to do so. Despite his belief in “no self”, he suggested that self-love provides a strong reason for individuals to refrain from hurting others.

It seems likely that many merchants would have been attracted to the precepts of the Noble Eightfold Path as providing a basis for ethical conduct. They would certainly have been inclined to view themselves as engaged in “right livelihood”, because they were earning a living in a way that benefits others as well as themselves.

Andy Rotman has noted that early Buddhist literature accords high regard to merchants. In one story, a merchant, Supriya, converts all of India to Buddhism by satisfying everyone’s material needs and then establishing them on the tenfold path of virtuous actions. As well as presenting a merchant as a virtuous hero, the story seems to imply the existence of something like Maslow’s hierarchy of needs – people may find it easier to be virtuous if cravings associated with their physiological needs are satisfied.

The attitude of Brahminical Hinduism toward merchants also helps to explain why merchants were attracted to Buddhism. Kathleen Morrison notes:

“Buddhism … overcame many of the problems Brahminical Hinduism presented to merchants, including strict rules of commensality, limited avenues for social advancement, and a prohibition against overseas travel.”

Conclusion

Visits to ancient Buddhist caves during my recent trip to India were motivated by my interest in links between Buddhism and merchants engaged in international trade. Many of the murals in the Ajanta caves depict an environment full of beauty and the pleasures of youth rather than ascetic monasticism.

It isn’t difficult to understand why merchants might fund the creation of such works of art, but that doesn’t explain why they would be attracted in the first place to a religion advocating a “no self” doctrine. It is central to Buddhism that giving up on the idea of self enables people to liberate themselves from the craving that is the cause of suffering.

The important point is that Buddhists have no problem accepting that the existence of selves as a convention necessary to function in everyday life. Ethical behaviour is predicated on the idea that actions have consequences, which presupposes the existence of individuals who make choices.

It seems likely that merchants would have been attracted to the Noble Eightfold Path as offering support for ethical conduct. They had good reasons to think of themselves as engaged in “right livelihood”.

The high regard for merchants in Buddhist society is reflected in early Buddhist literature. By contrast, at that time Hinduism seems to have been much less supportive of the activities of merchants.  

Source: https://www.freedomandflourishing.com/2026/04/why-were-merchants-attracted-to.html