Legends relating to the settlement in this Island, of a people of Indo-Aryan culture,, were prevalent in ancient India. These legends have been preserved in Sanskrit Buddhist literature and indicate that the pioneers who introduced Indo-Aryan civilization to this Island were merchant adventurers. they were most probably attracted to its North-Western littoral by its pearl banks, and to the south-eastern regions on account of the precious stones which the hinterland yielded.
One of the earliest names of this Island in Sanskrit Buddhist literature is Ratnadvipa, the Island of Precious stones. Marvelous tales were narrated about this Island by these merchants when they returned home. the inhabitants of the Island are referred to in these tales as Yaksas and Raksas (daemons) who could assume any form at will, and live in splendid mansions, but were in the habit of luring human beings to prey on them. One legend refers to ogresses who lured seafarers by their enchanting forms and art, and kept those victims in luxury for a while before devouring them. One may suspect that these tales were invented by the pioneers who desired to keep the valuable merchandise from this Island as a monopoly to themselves, by discouraging possible competitors from visiting its shores for fear of these superhuman monsters. .
About the time that bands of Indo-Aryans were making this Island their home. momentous events were taking place in North India. Many centuries of religious development and metaphysical speculation culminated in the rise of Buddhism, which preached that men could assure their welfare here and in hereafter, and attain final beatitude by their own efforts, without divine help. Reason was given its due place in Buddhism, and it was incumbent on its followers to carry its message of hope and goodwill to every corner of the world.
The north-western regions of India had been incorporated in the great Persian Empire, the first empire founded by a people of Aryan Speech.
