One way to gain an intuition for the extent of the change is to consider population sizes. India in 1600 had about a tenth of its present population. To have a population so much larger, agricultural productivity in India, as well as in the rest of the world, had to increase a great deal in the intervening years.
Another way is to consider the spread of various conveniencies of life -- refrigerators, motor bikes, microwaves, automobiles -- and affordances they enable. Relatively few people in Bangladesh own motor vehicles, but many of them find work in commercial enterprises that are only possible because of the way that commercial trucks open up the interior to world markets. Something like 12% of the world's population has cars today, and that number is steadily increasing. I am not totally certain of this figure, but I believe about two thirds of households in the world have refrigerators.
The benefits of modernization are spread very unevenly amongst the world's peoples today (and we must acknowledge that another example I offered, of the Pax Romana, conferred many advantages specifically to the Romans) but it is hard to argue that there has not been a tremendous benefit worldwide as a result of changes brought about mostly by colonial powers over the last 400 years or so. The thing to consider is not what life in Bangladesh is like, relative to life in the Denmark (or the UK, &c), but what life in Bangladesh was like 400 years ago.
The Europeans do not have it as good as they do -- and, more generally, the world is not so much better off materially -- as a result of simply transferring well-being from one place to another. There were no automobiles, refrigerators, &c, to steal from other countries 400 years. The path to modernity involved real changes in human productivity that allowed for a genuine net benefit.