I have been moving beyond Indian Literature and try to compile a Indian subcontinent's "List of Canonical Texts" into other areas. I went back to Basham's 1984, and saw that in its Chronological Tables, the "Cultural and Religious Column" in fact include a list of the most important works and figures, per below: (I ignored all the non text-related stuff such as art and architecture, or scientists / physicians / astronomers etc.)
c. 1300-1000B.C. Composition of Rig Veda
c. 1000-800B.C. Composition of Brahmanas
Beginning of composition of Mahabharata
c. 700B.C. Parsva [Jina before Mahavira, considered historical]
Aruni Gautama [Upanisadic philosopher - associated with doctrine of transmigration]
c. 563/6-483/6B.C. Gautama Buddha
c. 500B.C. Mahavira [founder of Jainism]
Composition of Upanisads
Composition of Tripitaka [Buddhist]
c. 350B.C. Panini
Kautilya's Arthasastra in original form
Patanjali [both commentator to Panini's grammar, and author of Yoga Sutra]
c. 1st century B.C. Final composition of Ramayana
(Dates below are in A.D.)
Asvaghosha
1st-3rd centuries Tamil Ettuttogai
c.100-200 Lawbook of Manu in final form
2nd century? Bhasa [dramatist]
c. 150 Nagarjuna
Puranas
Panchatantra
c. 400 Asanga
Kalidasa
Bhakti movement in South India
Bana
c. 660-710 Dandin
680-730 Bhavabhuti [dramatist, held in high esteem in traditional literary criticism]
9th century Sankaracharya
c. 1000 Abhinavagupta [founder of Kashmir Saivism]
c. 1000-1070 Kshemendra
Sufisim in India
1137 Death of Ramanuja
Hemachandra [Jain scholar]
?1197-1276 Madhva
1253-1325 Amir Khusrau
1271-97 Jnanesvara, bhakti writer [Marathi, author of a commentary to Bhagavad Gita]
c. 1400-1470 Ramananda [follower of Ramuja's sect, teacher of Kabir, spread Vaisnavism to North India]
1440-1518 Kabir
1469-1539 Guru Nanak
1473-1531 Vallabhacharya
1453-1533 Chaitanya [Bengali]
1532-1623 Tulsidas
(1542-1545 St. Francis Xavier in India)
(1579 Father Thomas Stevens)
1598-1650 Tukaram
1603-4 Compilation of Guru Granth Sahib
(1784 Sir William Jones found Asiatic Society)
1772-1833 Ram Mohan Roy
1818-98 Sayyid Ahmad Khan
1834-86 Ramakrishna
1869-1948 Mahatma Gandhi
1872-1950 Sri Aurobindo
1913 Tagore wins Nobel Prize for Literature
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Looking at this list:
1) The big ommissions in literature seem to be Silappadigaram ("The Jewelled Anklet"), Hala's Saptasataka, Bhatrhari, Jayadeva's Gita-Govind, Somadeva and Ghalib.
2) I am not yet sure what some of the 19th century names signify
3) Bhakti in South Asia (Tamil poetry) and Sufism in India - definitely should have some names in those key movements.
4) Among the moderns, as I mentioned in another post, it is still too early to tell who will be ultimately canonized.
5) These being said, this is a very reasonable short-list, and with further data added (e.g. region of writing / influence, key works / genres of authors, religious affiliation, etc.), I think this is a really good base for constructing a Indian canon list!
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