A has put India at number seven in the top ten wealthiest countries in the world. Australia has been ranked number nine on the report that has the United States sitting at the top of the world.
The report takes into account the net individual wealth of a person, including all their assets- cash, property, equities and investments. The report excluded the government funds from its figures.
India’s ranking at number seven on the report is said to be largely due to its large population which has crossed 1.3 billion by the latest count. The total individual wealth of the Indians adds to a massive $5,600 billion.
The net individual wealth of Australia has been calculated to be $4,500 billion. The country’s ranking has been termed as “impressive” despite its very small population.
“Australia’s ranking is impressive, considering it only has 22 million people living there,” the report explained.
The US is the wealthiest country in the world with a total individual wealth of astronomical $48,900 billion, ahead of China’s $17,400 billion.
Japan with $15,100 billion ranked third on the report.
Others in the top 10 club were the United Kingdom at No. 4 with a total individual wealth of $9,200 billion, followed by Germany (5th, $9,100 billion) and France (6th, $6,600 billion).
Canada with $4,700 billion ranked 8th, one above Australia, and Italy ($4,400 billion) is on the tenth position.
Over the past 5 years, China was the fastest growing wealthiest country in terms of dollar wealth growth.
The overall wealth table topper US slipped at number eight in the highest per capita income with $151,000. With a per capita annual income of 203,000 per annum, Australia ranks 4th in the world.
On India, the report stated, “Australia and India also grew strongly and India, Australia and Canada have just overtaken Italy over the past 12 months.”
for more news and updates.
More from SBS Punjabi
Announcement on new parental visa soon, says Dutton
