New World Wealth Report Current Affairs
According to New World Wealth Report, India was ranked sixth in list of wealthiest countries with total wealth of US $8,230 billion in 2017.
The total wealth, refers to private wealth held by all individuals living in each country/city. It includes all their assets (property, cash, equities, business interests) less any liabilities. However it excludes government funds.
Top 10 Wealthiest Countries are United States (1st, total wealth held US $ 64,584 billion), China (2nd, $24,803 billion), Japan (3rd, $19,522 billion), 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).
Meanwhile, during period under consideration global wealth rose by 12% (from US $192 trillion at the end of 2016 to US %215 trillion at the end of 2017) and China’s wealth saw an increase of 22% .
India was best performing wealth market globally in 2017 as its total wealth swelled from US $6,584 billion in 2016 to US $8,230 billion in 2017, registering a 25% growth. Over the past decade (2007-2017) India’s total wealth increased from US $3,165 billion in 2007 to US $8,230 billion in 2017, a jump of 160%.
India is home to 3,30,400 HNWIs (individuals with US $1 million or more in net assets). Globally, India was ranked 9th in this aspect while US topped the list with 50,47,400 HNWIs (high-net-worth individuals).
India is also home to 20,730 multi-millionaires, 7th largest in world and in terms of resident billionaires (individuals with US $1 billion or more in net assets), India with 119 such individuals was named among the top three countries globally, after US and China.