India ranked as 7th wealthiest country in the world

According to the reports by New World Wealth, India has been ranked seventh in the list of top 10 wealthiest countries in the world. With total individual wealth of $ 5,200 billion, India is largely owing to its large population. Adding that on a per capita basis, the average Indian is 'quite poor'. India only makes the W10 due to its large population. Over the past 15 years the country grew 'strongly' and china was the fastest growing W10 country from past 2000-2015. Australia and India also grew strongly as per reports. 

India has overtaken Italy this past year, Canada and Australia are expected to overtake Italy in the next coming years. Australia's ranking is stirring considered it has only 22 million people living.

List Of Top 10 Countries with total individual wealth:

1- United States $48,700 billion

2- China $17,300 billion

3- Japan $15,200 billion 

4- Germany $9,400 billion 

5- United Kingdom $9,200 billion

6- France $7,600 billion 

7- India $ 5,200 billion

8- Italy $5,000 billion

9- Canada 9th, $4,800 billion 

10-Australia $4,500 billion

Note:

• 'Total individual wealth' refers to the private wealth held by all individuals in each nation.
• The report defines 'wealth' as the net assets of an individual, which includes all their assets (cash, property, business interests, equity) less any liabilities. The report excludes government funds from its figures.

© Taaza Vaartha