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With over 20K multi-millionaires, India is 6th richest country in the world, finds study

India ranks sixth with a total wealth of $8,230 billion while the United States continues to be the most wealthiest nation in the world

India has nudged past France to become sixth wealthiest country in the world.

According to New world wealth report 2017, India ranks sixth with a total wealth of $8,230 billion while the United States continues to be the most wealthiest nation in the world.

While US topped the chart with total individual wealth held at $64,584 billion, China was a distant second with  a total wealth of $24,803 billion followed by Japan ($19,522 billion), the report said.

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).

India best performer in global wealth market

The study also noted that 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.

Over the past decade (2007-2017), India’s total wealth increased from $3,165 billion in 2007 to $8,230 billion in 2017, a jump of 160%.

Indian Express

Home to over 3 lakh high net-worth individuals

The report also noted that India, is home to 330,400 HNWIs (high net-worth individuals), ranking it ninth in this aspect.

India is also home to 20,730 multimillionaires, the seventh largest in the world. India has 119 billionaires, the third-highest after the US and China, the report said.

Last year, India was ranked seventh behind France with a total individual wealth of 5.6 trillion dollars.

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.