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.
