India ranked as 6th wealthiest country in the world: Report
A report by New World Wealth has ranked India in the sixth position in the list of wealthiest countries. It noted that India was the best-performing wealth market globally in 2017, as its total wealth increased from USD 6,584 billion in 2016 to USD 8,230 billion in 2017, registering a 25 per cent growth.
• The United States is the wealthiest country in the world with a total wealth of USD 64,584 billion.
• The report ranked China in the second place, as its total wealth in 2017 amounted to USD 24,803 billion.
• Japan follows at the third position with a total wealth of USD 19,522 billion.
• The top 5 also includes the United Kingdom at the 4th position with wealth amounting to USD 9,919 billion and Germany at the 5th position with USD 9,660 billion.
• India is ranked at the 6th position with USD 8,230 billion, followed by France at 7th with USD 6,649 billion, Canada at 8th with USD 6,393 billion, Australia at 9th with USD 6,142 billion and Italy at 10th with USD 4,276 billion.
• The total wealth refers to the private wealth held by all the individuals living in each country.
• It includes all assets held by individuals including property, cash, equities and business interests.
• The report, however, excludes government funds from its figures.
• Over the past decade (2007-2017) India's total wealth increased from USD 3,165 billion in 2007 to USD 8,230 billion in 2017, registering a jump of 160 per cent.
• The report further noted that India is home to 3, 30,400 HNWIs (individuals with USD 1 million or more in net assets).
• Globally, India was ranked 9th in this aspect while the US topped the list with 50, 47,400 HNWIs (high-net-worth individuals).
• India is also home to 20,730 multi-millionaires, 7th largest in the world.
• In terms of resident billionaires, India with 119 such individuals was named among the top three countries globally, after the US and China. A billionaire is defined as an individual with USD 1 billion or more in net assets.