India has been ranked sixth in the list of wealthiest countries with total wealth of $8,230 billion, while the United States topped the chart. New World Wealth, the US is the wealthiest country with total wealth of $64,584 billion, followed by China ($24,803 billion) and Japan ($19,522 billion).
Total wealth refers to the private wealth held by all the individuals living in each country/city. It includes all their assets (property, cash, equities, business interests) less any liabilities. 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).
India was the best performing wealth market globally in 2017 as its total wealth rose 25% from $6,584 billion in 2016 to $8,230 billion in 2017. China’s wealth during the year saw an increase of 22% and global wealth rose by 12% (from $192 trillion at the end of 2016 to $215 trillion at the end of 2017).
Over the past decade (2007-2017), India’s total wealth increased from $3,165 billion in 2007 to $8,230 billion in 2017, a jump of 160%. The report further noted that India, is home to 330,400 HNWIs (high net-worth individuals), ranking it ninth in this aspect. The US topped the list with 5,047,400 HNWIs.