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  1. Violence cost economy $342 bn in 2014: Report

Violence cost economy $342 bn in 2014: Report

Violence hit India where it hurts the most — it impacted the economy to the tune of $341.7 billion in 2014, according to the Institute for Economics and Peace (IEP).

By: | New Delhi | Published: June 18, 2015 12:48 AM

Violence hit India where it hurts the most — it impacted the economy to the tune of $341.7 billion in 2014, according to the Institute for Economics and Peace (IEP).

The country has been ranked at a lowly 143 out of 162 nations in this year’s Global Peace Index (GPI).

According to the 2015 GPI published today, escalating civil strife and the consequent refugee crisis have been among the major factors behind the rising cost of global violence containment.

On India, the report said “the economic impact of containing and dealing with the consequences of India’s levels of violence was estimated to cost the national economy $341.7 billion in 2014. This is equivalent to 4.7% of India’s GDP, or $273 per person”.

India ranked 5th out of seven countries in South Asia. Moreover, in the past eight years, India deteriorated by 6%.

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