New World Wealth Report Current Affairs

India 6th wealthiest country: New World Wealth Report

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.

Key Facts

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.

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