According to a report by New World Wealth, 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. The United States has topped the list with a total wealth of($48,900 billion), while China stands second and Japan third. The U.S is the wealthiest in the world in terms of total individual wealth held ($ 48,900 billion) while China stood second and Japan third, with total individual wealth of $ 17,400 billion and USD 15,100 billion, respectively. India came 7th on the list with a total individual wealth of $5,600 billion (nearly Rs 372.5 lakh crore). 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. 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.” Germany is 5th with $ 9,100 billion) followed by France (6th, $ 6,600 billion). Wealth refers to net assets of a person and includes all their assets property, cash, equities and business interests the report said, adding that it excludes government funds from its figures.