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India missed becoming a 3.5 trillion dollar economy in 2017, here is why

By Oneindia Staff Writer

A report prepared b y the Institute for Economics and Peace says that violence may have cost the Indian economy 1.19 trillion US dollars (over Rs 80 lakh crore) in constant purchasing power parity terms.

India missed becoming a 3.5 trillion dollar economy in 2017, here is why

The report suggests that India missed the landmark of becoming a 3.5 trillion dollar economy. Given that India's Gross Domestic Product stands at 2.264 trillion dollars, it could be implied that the impact of the violence may have prevented it from missing the landmark.

The report says global economic impact of violence increased by 2.1 per cent from 2016 to 2017. Since 2012, it has increased 16% - with the 2017 bill of violence totaling $14.76 trillion. The highest impact in absolute terms was in the US, at $2.67 trillion.

However, India's ranking is pretty much in the pits at 136 among 163 countries, below Iran. The 2017 ranking is a notch higher than that of 2016, when India was pegged at 137.

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