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India is world’s sixth wealthiest country, ranks above Australia: New World Wealth Report

India Gate, New Delhi Source: Pexels

India has total wealth more than France, Canada, Australia and Italy while the US and China top the list of the wealthiest countries in the world, says a report by New World Wealth.

India is world’s sixth wealthiest country with total wealth of $8,230 billion, according to a report by New World Wealth.

PTI reports India’s total wealth is more than Australia, France, Canada and Italy while the US and China top the list of the wealthiest countries in the world, according to a report by New World Wealth.

Australia ranks ninth on this list with total wealth of $6,142 billion.

The New World Wealth report said, “wealth held in China, India, USA, Japan and Australia all grew strongly over the past year”.

India was the best performing wealth market globally in 2017 as its total wealth rose 25% from $6,584 billion in 2016 to $8,230 billion in 2017.

China’s wealth during the year saw an increase of 22% and global wealth rose by 12% (from $192 trillion at the end of 2016 to $215 trillion at the end of 2017).

World’s Top 10 Wealthiest Countries according to a report by New World Wealth

1. US is the wealthiest country with total wealth of $64,584 billion

The US Capitol is seen with the frozen reflecting pool at sunset on Thursday, Jan. 4, 2018.
The US Capitol is seen with the frozen reflecting pool at sunset on Thursday, Jan. 4, 2018.
AAP

2. China ranks second on this list with $24,803 billion

Beijing central business district
China World Trade Center
Getty Images/Dukai photographer

3. Japan came in third with a total wealth of $19,522 billion

Watch the Shirakawa-gō Winter Light-Up, Japan
Shirakawa-gō Winter Light-Up, Japan
Kayak

4. United Kingdom was fourth on the list with $9,919 billion

The British Union flag outside parliament in London, Britain, 12 December 2017
The British Union flag outside parliament in London, Britain, 12 December 2017
AAP

5. Germany ranked fifth on the list with $9,660 billion

The Gendarmenmarkt Christmas market in Berlin, Germany.
The Gendarmenmarkt Christmas market in Berlin, Germany.
AAP

6. India is the sixth wealthiest country with total wealth of $8,230 billion

Rashtrapati Bhavan, New Delhi
Rashtrapati Bhavan, New Delhi
Public Domain

7. France was the seventh wealthiest country with $6,649 billion

The Eiffel Tower and signboards are pictured next to the River Seine in Paris.
The Eiffel Tower and signboards are pictured next to the River Seine in Paris.
AP

8. Canada is ranked eighth on the list with $6,393 billion

Toronto, Canada
Toronto, Canada
Pixabay

9. Australia was on the ninth position with $6,142 billion

Sydney
Pixabay

10. Italy ranks tenth on the list with a total wealth of $4,276 billion

The Colosseum in Rome, Italy.
The Colosseum in Rome, Italy.
AAP

Total wealth refers to the private wealth held by all the individuals living in each country/city. It includes all their assets (property, cash, equities, business interests) less any liabilities. The report, however, excludes government funds from its figures.

The report also noted India is home to 330,400 HNWIs (high net-worth individuals), ranking it ninth in this aspect while the US topped the list with 5,047,400 HNWIs.

High net-worth individuals are those with $1 million or more in net assets.

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