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
2. China ranks second on this list with $24,803 billion
3. Japan came in third with a total wealth of $19,522 billion
4. United Kingdom was fourth on the list with $9,919 billion
5. Germany ranked fifth on the list with $9,660 billion
6. India is the sixth wealthiest country with total wealth of $8,230 billion
7. France was the seventh wealthiest country with $6,649 billion
8. Canada is ranked eighth on the list with $6,393 billion
9. Australia was on the ninth position with $6,142 billion
10. Italy ranks tenth on the list with a total wealth of $4,276 billion
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.