India Ranked Sixth Wealthiest Nation, Says Report
Inning accordance with a report by New World Wealth, the United States is the most affluent country on the planet.
Budget 2018|Press Trust of India|Upgraded: January 30, 2018
- Total wealth is the private wealth held by all people of the state
- The report omits federal government funds from its figure
- United States is the wealthiest country worldwide
New Delhi: India has actually been ranked 6th in the list of wealthiest nations with overall wealth of $8,230 billion, while the United States topped the chart, says a report.
According to a report by New World Wealth, the United States is the most affluent nation on the planet as the overall wealth held in 2017 amounted to $64,584 billion, followed by China at the 2nd place with $24,803 billion and Japan with $19,522 billion at 3rd.
Total wealth, describes the personal wealth held by all the individuals living in each country/city. It includes all their properties (residential or commercial property, cash, equities, organisation interests) less any liabilities. The report, nevertheless, excludes government funds from its figures.
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).
The report even more kept in mind that India was the finest carrying out wealth market worldwide in 2017 as its total wealth swelled from $6,584 billion in 2016 to $8,230 billion in 2017, signing up a 25 percent growth.
Meanwhile, during the period under consideration China’s wealth saw a boost of 22 percent and international wealth increased by 12 percent (from $192 trillion at the end of 2016 to $215 trillion at the end of 2017).
Over the previous years (2007-2017) India’s total wealth increased from $3,165 billion in 2007 to $8,230 billion in 2017, a jump of 160 percent.
The report further kept in mind that India, is the home of 3,30,400 HNWIs (individuals with $1 million or more in net assets).
Internationally, India was ranked 9th in this element while United States topped the list with 50,47,400 HNWIs (high-net-worth people). India is also home to 20,730 multi-millionaires, 7th biggest worldwide. And in terms of resident billionaires, India with 119 such individuals was called among the top three countries internationally, after the US and China.
A billionaire is defined as an individual with $1 billion or more in net assets.
“In basic, it was a great year for all W10 (wealthiest 10) markets, thanks to strong international stock exchange gains – the MSCI world index was up 23 per cent and the Dow Jones (DJIA) was up 26 percent during the year (in USD terms),” the report said, including “wealth held in China, India, USA, Japan and Australia all grew strongly over the previous year”.