‘Cost of waging terror less than its economic impact’

Mumbai, Aug 24 (IANS) With a growing number of countries being targeted by terrorism, the cost of waging terrorist activity is much lesser than the economic impact it brings, chief of Indian Navy's frontline Western Naval Command Vice Admiral Girish Luthra said on Wednesday.

The economic impact of terror is "asymmetric" in nature, with the cost of waging a terror act much lower than the economic impact it causes, he said while speaking at the 5th India Economic Forum, organised by Dun and Bradstreet here, on "Impact of Terrorism on the Indian Economic Growth".

Luthra said the global terrorism index of 2015 records a significant increase in the number of countries which are suffering due to terror acts and brought out the consequences on the country's economy.

Explaining the difference in the Indian context, he said that since 90 percent of the country's trade by volume is by the seas, the threat of maritime terror needs to be addressed.

"The government is taking steps to do the same. Anti-terrorism activity is a continuous work in progress and monitoring terrorist activities and tactics, and upgrading resources and infrastructure to fortify the maritime borders is being done expeditiously," he said.

Luthra also apprised the gathering on the measures initiated towards improving and strengthening coastal security measures in the eight years since the 26/11 Mumbai terror attack.