India News

Among the top 10 wealthiest countries in the world, India has occupied the 7th place, with a total individual wealth of $5,600 billion.

New World Wealth report revealed that, US topped the list with the total individual wealth held ($48,900 billion) and China and Japan in 2nd and 3rd with $17,400 billion and $15,100 billion individual wealth respectively.

Wealth refers to the net assets of person, which includes the assets like (property, cash, equities, business interests) less any liabilities, and excludes government funds from its figures.

Large population in India is one of the main reasons for the 7th spot. According to the report, “Australia's ranking is impressive, considering it only has 22 million people living there.”

In terms of dollar wealth growth, over the past 5 years, China was the fastest growing wealthiest country. Coming to India, the report stated, "Australia and India also grew strongly and India, Australia and Canada have just overtaken Italy over the past 12 months."