New Delhi: The latest report by New World Wealth has declared India as seventh wealthiest country in the world with a total wealth of $5,600 billion.
India was ranked 7th ahead of Canada ($4,700 billion), Australia ($4,500 billion) and Italy ($4,400 billion), which came in at 8th, 9th and 10th slots, respectively, according to a report by New World Wealth.
The United States has topped the list with a total wealth of ($48,900 billion), while China stands second and Japan third.
“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,” the report said.
India’s ranking as one of the wealthiest countries in the world is largely because of its population.
“Australia’s ranking is impressive, considering it only has 22 million people living there,” the report explained.
In terms of Dollar wealth growth, China has been the fastest growing wealthiest country over the past 5 years.