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India stands 7th in list of 10 Wealthiest countries

India has recently figured among the top 10 wealthiest countries in the entire world with having a total individual wealth of USD 5,600 billion while the United States has topped the chart.

According to a report by the New World Wealth, India was ranked 7th, and ahead of Canada (USD 4,700 billion), Australia (USD 4,500 billion) and also Italy (USD 4,400 billion), which came in at 8th, 9th and 10th slots, respectively.

The US is ranked as the wealthiest in the world in terms of their total individual wealth held (USD 48,900 billion) while China managed to stand second and Japan third, with their total individual wealth of USD 17,400 billion and USD 15,100 billion, respectively.

India

India stands 7th in list of 10 Wealthiest countries

Others who were in the top 10 club includes the United Kingdom (4) with a total individual wealth of USD 9,200 billion, followed by Germany (5th, USD 9,100 billion) and then France (6th, USD 6,600 billion).

Wealth has been referred to the net assets of a person.

It also includes all their assets (property, cash, equities, business interests) less of any liabilities, the report said further adding that it excludes government funds from its figures.

The ranking of India as one of the top 10 wealthiest countries is largely because of its huge population. “Australia’s ranking is also impressive, considering it has only 22 million people living there,” the report explained.

The study has ranked the wealthiest countries in the world as of June 2016 in the terms of total individual wealth held.

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