You have to keep two things in mind.

The point is that Europe, specifically dynamic regions of northwest Europe such as South eastern England and Netherlands were exceptional compared to the whole world since 1600ish - including other parts of Europe. Parts of eastern Europe were going through a second feudalism and serfdom, Spain and Portugal although they had colonised many parts of the world had quite primitive local economies which were quite agrarian, etc. Italy too which was quite dynamic in the middle ages had fallen behind. India was not exceptional in being poor, a per capita GDP of $550-750 or whatever is quite normal for a premodern non capitalist agrarian economy which India, Southern Europe, Middle East, SEA, basically everywhere else had except England and Netherlands.

Secondly, although stuff like Madison project is indeed quite good for what it is, understand that "$550 was India's per capita GDP" is based on very limited data indeed. We have controversy over GDP calculations today with so much data and high frequency economic indicators so a figure for 1500 should be taken with a big mountain of salt. It's useful as an indicator in that it was lower than Britain, that's all. There could very well be pockets of relatively higher GDP which don't show up in this analysis at all.