India lost around 9% of its GDP last year due to violence: Report
AdvertisementGetting 1.3 billion people to live in harmony, not only with each other, but with the rest of the world is no mean feat.
Domestically, the tenuous political situation in the state of Kashmir showed no signs of letting up last year, while protests, riots and communal
Huge economic cost
This violence represents a significant cost to India’s
The report measures the cost of violence not only in terms of the direct expenditure on military conflict and security, but also the costs of mitigating and dealing with the consequences of violence. It also takes into account the economic multiplier effect, or the incremental economic activity, that was lost as a result of the violence.
India did, however, move up one place to 136 on the
The Middle East and North Africa (MENA) region continued to be the world’s least peaceful geographic region, hosting 4 of the world’s 10 most violent countries. South Asia proved to be the world’s second least peaceful region, amid ongoing conflicts in Pakistan and Afghanistan - which lost 13% and 63% of their GDP, respectively, in 2017.
The overall cost of violence in the world has risen 16% since 2012, when Syria’s civil war started, reaching $14.76 trillion last year. This is equivalent to 12.4% of the world’s GDP.
Finally, the report showed how much it pays to be at peace. Since 1948, countries that rank high on the Global Peace Index have seen per capita GDP grow thrice as fast when compared to less peaceful ones.
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