Humanity is currently facing some of the greatest challenges in its history: economic, environmental, social and financial. During the last twenty years humanity has entered into a new epoch in its history. This has been brought about by a convergence of many factors. Finite environmental barriers are now being reached and on multiple fronts. World population is expected to reach seven billion within a couple of years and in many places in the world it is already at straining capacity. Technology is fuelling change at an ever increasing pace which in many ways underpins the growth of globalization. The world is connected in ways that were unimaginable even fifty years ago. Wars are no longer economically viable. Change is occurring so fast that nations are struggling to keep up with both the legal and social ramifications. Our notions and concepts of peace are changing with it. Today every developing nation want to develop their resources and want to provide a better way of life to its citizens, for that peace among different nation plays an important role for the economic development of a nation. This study is all about how peace among different nation plays an important role for their economic development