India ranks sixth as the wealthiest country in the world. As per the report of New World Wealth for 2016-2017, the total wealth of India amounts to $8,230 billion. The United States is the richest country of the world with a total wealth of $62,584 billion, as per AfrAsia Bank Global Wealth Migration Review for 2018.
The total wealth of a country is the sum of all the private wealth held by all the individuals in that country. Total wealth includes property, cash, equities, business interests. Total wealth excludes the government funds. As per the report, there are more than 500,000 millionaires in the world with net assets of $5 million or more and more than 2000 billionaires in the world with net assets of more than $1 billion. Among the top ten richest countries in the world, China follows the US at the second place as the second wealthiest country in the world with a total wealth of $ 24,803 billion. Japan is at the third place with a total wealth of $ 19,522 billion followed by the UK at the fourth place with a total wealth of $9,919 billion. Germany is placed at the fifth place with a total wealth of $9,660 billion followed by India at the sixth place with a total wealth of $8,230 billion. France follows India at the seventh place with a total wealth of $ 6,649 billion. Canada is placed at the eighth place with a total wealth of $ 6,393 billion followed by Australia at the ninth place with a total wealth of $6,142 billion. Finally, Italy is placed in the tenth place with a total wealth of $4,276 billion.
As per the report it is expected that over the next ten years India along with Sri Lanka, Vietnam, China and Mauritius will be the fastest growing wealth markets in the worlds. The growth in the wealth markets is based on factors such as a large number of entrepreneurs, business process outsourcing, information technology, real estate, media and healthcare.
