Question
Download Solution PDFAccording to the New World Wealth Report, India was ranked _____ in the list of wealthiest countries, according to which India had assets of $ 8,230 billion in 2017.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Sixth.
- According to the New World Wealth report, India was the best-performing wealth market globally in the year 2017.
Key Points
- Total wealth implies the private wealth held by all the individuals living in a particular country.
- It includes all their assets less any liabilities.
- The total wealth of India rose 25% from $6,584 billion in 2016 to $8,230 billion in 2017.
- India has approximately 20,730 multi-millionaires which is the 7th largest in the world.
Additional Information
- The top three countries on the list were-
- The United States of America with a total wealth of 64,584 billion US dollars.
- China with a total wealth of 24,803 billion US dollars
- Japan with a total wealth of 19,522 billion US dollars.
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