India 6th wealthiest country with total wealth of 8,230 billion US dollars

India is the sixth wealthiest country in the world with a total wealth of 8,230 billion US dollars. According to the AfrAsia Bank Global Wealth Migration Review, the US is the wealthiest country in the world with a total wealth of 62,584 billion dollars. China stood at the second place with 24,803 billion dollars, while Japan is at the third place with 19,522 billion dollars.

Total wealth refers to the private wealth held by all the individuals living in each country. It includes all their assets less any liabilities. 

Government funds are excluded from it. Larger countries have an advantage due to higher populations. Other countries in the top 10 wealthiest list include the UK, Germany, India, Australia, Canada, France and Italy. Factors that will help in wealth



creation in India include, large number of entrepreneurs, good educational system, robust outlook for IT, business process outsourcing, real estate, healthcare and media sectors which will result in a 200 percent rise in wealth in 10 years.

Globally,the total private wealth held worldwide amounts to around 215 trillion US Dollars. There are about 5.84 lakh multi-millionaires in the world, each with net assets of 10 million dollars or more and 2,252 billionaires, each with net assets of 1 billion dollars or more. Global wealth is expected to rise by 50 percent over the next decade, reaching 321 trillion dollars by 2027. The fastest growing wealth markets are expected to be India, Sri Lanka, Vietnam, China, Mauritius, the report said.