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India is 7th richest country in the world
Posted on: 24/Aug/2016 2:32:51 PM
A latest ranking by New World Wealth states that Indian stands seventh as the richest country in the world with a total wealth of $5.6 trillion equivalent to $5,600 billion. The topper in this list is the United States with wealth of $4.89 trillion equivalent to $48,900 billion. China and Japan fall in the consecutive positions.
The 4th, 5th and 6th positions are held with United Kingdom, Germany and France with wealth of $9.8 trillion, $9.1 trillion and $6.6 trillion respectively.
Holding the seventh position, Indian is ahead of Canada, Australia and Italy each of which has $4,700 billion, $4,500 billion and 44,400 billion respectively. These countries stand in 8th, 9th and 10th positions, according to New World Wealth report.
The wealthiest country in the world is the US with $48,900 billion, China stands next in second place and Japan has acquired the third place each with $17,400 billion and $15,100 billion, the report adds.
India holds this pride of being among the top wealthiest nations because of the huge population.
Australia’s ranking is stupendous for it has just 22 million people. China has shown highest growth in wealth in dollar. In the past five years, this has been the fastest growing country in wealth.
Wealth including property, equities, cash, business interest, and so on are taken under consideration while drafting the ranking. This list contains three nations from Asia, and four from Europe.
Australia being among the top ten has deeply inspired analysts because it has just 22 million people living there. In the past one year, Australia and Canada have both surpassed Italy. There is immense growth seen in the Chinese economy in the past five years.
When it comes to wealth held by individuals, European nations hold supremacy as compared to the global rankings. Monaco stands atop in the same. An individual living in Monaco holds $1.6 million of wealth with him, as of June 2016. This is the highest ever in the world.
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