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Report: Violence cost Indian economy $742 billion last year

05 Jul 2017 | By NewsBytes Desk

India is ranked 137 out of 164 countries in the 2017 Global Peace Index (GPI) released by the Institute for Economics and Peace.

India has moved up four places from 141 in 2016, due to a reduction in violent crime and increased law enforcement.

Violence cost the India economy $742 billion in 2016 which is 8.6% of its overall GDP.

In context: India ranked 137 in Global Peace Index

05 Jul 2017Report: Violence cost Indian economy $742 billion last year

ComparisonIndia ranked less peaceful than Brazil, China, Bangladesh, Nepal,

India is below its BRICS-counterparts Brazil (116), China (123) and South Africa (123) but better than Russia (151).

When it comes to its South Asian neighbors, India is ranked less "peaceful" than Bhutan (13), Sri Lanka (80) Bangladesh (84) and Nepal (93) but ahead of Pakistan (152) and Afghanistan (162).

Despite the improved ranking, India is less peaceful than it was a decade ago.

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DetailsIndia's per capita violence cost lower than Pakistan, Brazil, Russia

The per capita (per citizen) cost of violence in India in 2016 was $566 (Rs. 36,500).

That's higher than China ($517), but considerably lower than India's other BRICS counterparts South Africa's ($2,582), Russia's ($3,608) and Brazil ($1,952).

It's also lower than Pakistan ($634), Sri Lanka ($823) and Afghanistan ($949).

Civil war-hit Syria has lost 67% of its GDP to violence, Iraq-58% and Afghanistan-52%.

$1 invested in peace-building can reduce conflict cost by $16

Violence cost the global economy $14.3 trillion in 2016 which is 12.6% of the world's GDP, or $1,953 (Rs 125,000) per capita. "Every $1 invested in peace-building can lead to $16 decline in the cost of armed conflict," the GPI report said.