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https://thelogicalindian.com/awareness/india-became-worlds-6th-wealthiest-nation/
According to the report, the United States dominates the position with $64,584 billion in the year 2017. China followed with the total wealth amounting to $24,803 billion while Japan obtained the third place with its total wealth amounting to $19,522 billion.
The total wealth of a nation amounts to the private capital of every individual residing in that particular country or city. It encompasses an individual’s overall assets including property, cash, equities or business interests. Government fund is wholly excluded while calculating the total wealth of a country.
A notable point mentioned by the report is that India became the best-performing wealth market globally in 2017 with 25% rise in its total wealth from $6,584 in 2016 to $8,230 in 2017.
The country hiked a record-breaking 160% in the past decade, i.e. from $3,165 billion in 2007 to $8,230 billion in 2017. The report further noted that India has over 3,30,400 individuals with $1 million or more in net assets (HNWIs). India was given 9th position for the number of High Net Worth Ranking Individuals while the US once again topped the list with 50,47,400 HNWIs.