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The document examines the political economy of military finance in 18th and 19th-century South Asia, comparing the Mughal Empire, the Kingdom of Mysore, the Maratha Confederacy, and the Khalsa Kingdom against the East India Company (EIC). It argues that while indigenous powers attempted military-fiscal modernisation, they were hindered by diplomatic failings and internal fragmentation. The EIC succeeded by integrating local revenue systems, such as zamindari land taxes, with global maritime trade and Western military structures, eventually establishing the British Raj.

The report examines the evolution of military institutions in Southern Africa, focusing on the transition from colonial forces to national armies. It details the impact of liberation struggles, civil wars, and regional destabilization on the structure, policy, and professionalism of militaries in countries including Angola, South Africa, Mozambique, and Zimbabwe. Key themes include the integration of former combatants, the shift toward democratic civilian control, and the role of regional bodies like SADC in peacekeeping and security cooperation.

The document analyzes the Pindaris, who evolved from military mercenaries employed by Maratha sirdars into autonomous non-state agents due to the political fragmentation and economic decline of indigenous Indian polities. It contrasts the 'military-fiscal' state of the East India Company (EIC) with the decentralized Maratha Confederacy, explaining how the EIC's superior financial resources and bureaucratic infrastructure allowed it to eventually pacify the Pindaris through a combination of kinetic military operations and non-kinetic measures such as land grants and administrative reforms.