The HYDERABAD state was ruled from 1724 to 1857 by the Nizam, who was initially a viceroy of the Mughal empire in the Deccan. Hyderabad gradually became the first princely state to come under British paramountcy signing a subsidiary alliance agreement. During British rule in 1901 the state had an average revenue of Rs.417,00,000, making it the wealthiest princely state in India.[9] The native inhabitants of Hyderabad Deccan, regardless of ethnic origin, are called "Mulki" (countryman), a term still used today.[10][11] Flag of Hyderabad (18th century-1900) Flag of Hyderabad 1900-1947 The dynasty declared itself an independent monarchy during the final years of the British Raj. After the Partition of India, Hyderabad signed a standstill agreement with the new dominion of India, continuing all previous arrangements except for the stationing of Indian troops in the state. Hyderabad's location in the middle of the Indian union, as well as its diverse cultural heritage, was a driving force behind India's annexation of the state in 1948.[12] Subsequently, Mir Osman Ali Khan, the 7th Nizam, signed an instrument of accession, joining India.[13]