The Hush Post: India has been ranked the sixth wealthiest country with total wealth of $8,230 billion. The United States topped the chart with the total wealth of $64,584 billion in 2017, says a report by New World Wealth.
According to the report, China comes at the second place with $24,803 billion and Japan with $19,522 billion at third.
Total wealth refers to the private wealth held by all the individuals living in a country. It includes all their assets (property, cash, equities, business interests) without any liabilities. The report excludes government funds from its figures.
Others in the list include United Kingdom (4th, $9,919 billion), Germany (5th, $9,660 billion), France (7th, $6,649 billion), Canada (8th, $6,393 billion), Australia (9th, $6,142 billion) and Italy (10th, $4,276 billion).
The report further noted that India was the best performing wealth market globally in 2017 and registered a 25 per cent growth within a year. Its total wealth swelled from $6,584 billion in 2016 to $8,230 billion in 2017. During the same period, China’s wealth saw an increase of 22 per cent.
India is home to 3,30,400 HNWIs (individuals with $1 million or more in net assets). Globally, India was ranked 9th in this aspect while 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. And in terms of resident billionaires, India with 119 such individuals was named among the top three countries globally, after the US and China. An individual with $1 billion or more in net assets is termed a billionaire.