India the 7th Richest Country in the World
New Delhi: India has figured
among the top 10 wealthiest countries in the world with a total individual
wealth of USD 5,600 billion while the United States topped the chart.
According to a report by New World Wealth, India
was ranked 7th ahead of Canada (USD 4,700 billion), Australia (USD 4,500
billion) and Italy (USD 4,400 billion), which came in at 8th, 9th and 10th
slots, respectively.
The US is the wealthiest in the world in terms of
total individual wealth held (USD 48,900 billion) while China stood second and
Japan third, with total individual wealth of USD 17,400 billion and USD 15,100
billion, respectively. Others in the top 10 club include the United Kingdom (4)
with a total individual wealth of USD 9,200 billion, followed by Germany (5th,
USD 9,100 billion) and France (6th, USD 6,600 billion).
Wealth refers to net assets of a person. It
includes all their assets (property, cash, equities, business interests) less
any liabilities, the report said adding that it excludes government funds from
its figures.
The ranking of India as one of the top 10
wealthiest countries in the world is largely because of its large population.
"Australia's ranking is impressive, considering it only has 22 million
people living there," the report explained.
Over the past five years, China was the fastest
growing wealthiest country in terms of dollar wealth growth. On India, the
report stated, "Australia and India also grew strongly and India,
Australia and Canada have just overtaken Italy over the past 12 months."
The study ranked the wealthiest countries in the
world as of June 2016 in terms of total individual wealth held.
Description: The ranking of India as one of the top 10 wealthiest (Richest) countries in the world is largely because of its large population.
Keywords: India. Richest, wealthiest, Country, World, Economy
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