India has been listed among the top 10 wealthiest countries in the world with individual net assets of $5,600 billion, finds the latest report by New World Wealth. “The ranking of India as one of the top 10 wealthiest countries in the world is largely because of its large population,” states the report.
According to the report, “wealth” refers to the net assets of a person which includes all their assets (property, cash, equities, business interests) less any liabilities.
The HNWI population in India has grown by 55% from 1.52 lakh in 2007 to 2.36 lakh in 2015.
“The average Indian individual has net assets of approximately US$4,200. This makes India the 7th richest country in the world (in terms of total individual wealth held) after USA, China, Japan, Germany, UK and France, states the report.
The US is the wealthiest in the world in terms of total individual wealth held ($48,900 billion) while China stood second and Japan third, with total individual wealth of $17,400 billion and $15,100 billion, respectively.
