Connect with us

Economy

Booming Indian Economy: India The 6th Wealthiest Nation In The World

Published

on

The Indian Economy is consistently progressing over the years. Both in terms of GDP and PPP, the Indian Economy has made significant progress. The New World Wealth report of 2018 has placed India at the sixth position in the list of wealthiest nations in the world.

With a wealth of USD 8,230 billion, India stands at number 6 behind the United States at the top, China at number 2, and Japan at number 3. The total wealth of a nation taken into account refers to the total wealth privately held by the individuals living in every city of the country. It further takes into account all their assets including cash, business, property and equities and minuses the liabilities. The government funds are not taken into account for the same. The rising Indian economy is thus a result of the rise in individual capacity.

Read: BITCOIN – The Biggest Risk for the Global Economy

Indian Economy: Nation Ahead of France, Canada, and Australia in Terms Of Wealth

Going further, the list also includes the United Kingdom at number and Germany at number 5, ahead of India. Reflecting on the growing Indian economy, India stands ahead of a number of wealthy nations including France at number 7, Canada at number 8, Australia at number 9, and Italy at number 10.

Read at EurAsian Times: Why is the Property Market in India at All Time Low?

The authors of the New World Wealth report state that the year was a ‘good year’ for all top ten nations in the list owing to strong market gains in the global economy. The report added that the MSCI world index recorded a 23 percent rise while the Dow Jones index was up by 26 percent during the financial year, in terms of US Dollar. The authors further said that the collective wealth held by India, USA, China, Japan, and Australia grew ‘strongly’. The rising Indian economy thus reflects on the consistent measures taken by the nation towards progressing and making a global impact.

The Indian Economy Compliments ‘The Best Global Wealth Rise’

Among all top 10 nations, also known as W10 nations, the report says that India performed the best with a rise in wealth at 25 percent from USD 6,584 billion in the year 2016 to USD 8,230 billion in 2017. China, on the other hand, stood second in terms of growth pace as its wealth increased by 22 percent during the year. Global wealth overall grew from USD 192 trillion to USD 215 trillion over the last year, recording a 12 percent rise. The Indian economy is expected to continue to grow and surge at 7.5 percent according to IMF

Other News:

 

Advertisement
Advertisement

Facebook

FEATURED

Featured17 mins ago

Indian Air Force Shows Its Prowess With ‘Swarm Drone Technology’; Tweets Images: Watch

In a recent tweet, the Indian Air Force has released images of its own swarm drone tests after news came...

INDIA-CHINA INDIA-CHINA
Asia Pacific2 hours ago

China Threatens India With A Weather Modification System That Can Cover 1.5 Times The Area Of Entire India

India and China are engaged in a border dispute in Eastern Ladakh for the past seven months, and their troops...

S400-VS-F35 S400-VS-F35
Americas13 hours ago

Is The UAE Threatening To Opt For Russian Su-57 Jets Over US’ Stealth F-35 Warplanes??

The United Arab Emirates (UAE) has warned that if the US refuses to supply it with F-35 and MQ-9 Reaper...

india-russia india-russia
Featured14 hours ago

Indian, Russian Navy Hold PASSEX Exercise In The Eastern Indian Ocean Region

On the occasion of Navy Day, the Indian Navy is conducting a passage exercise (PASSEX) with the Russian Navy in...

Pakistan-Turkey-Relations Pakistan-Turkey-Relations
Featured16 hours ago

After Backing Pakistan on Kashmir, Is Turkey’s Erdogan Hiring Syrian Mercenaries To Fight In The Valley?

For some time now, Turkey has been making attempts to grow its influence among the Muslims in South Asia in...

iran-israel iran-israel
Featured17 hours ago

Assassination Of Top Iranian Scientist Will Complicate Relations Between The US & Iran: Joe Biden

Joe Biden, the next President of the United States said the assassination of Iranian nuclear scientist Mohsen Fakhrizadeh is likely...

BRAHMOS BRAHMOS
Asia Pacific19 hours ago

From Rafales, Su-30 MKIs & Tejas, Why Next-Gen BrahMos Missile On Indian Air Force Jets Can Be A Game-Changer For India?

Amid the border row with China, the Indian armed forces successfully test-fired the BrahMos supersonic cruise missiles in the past...

India-Pak-War-1971 India-Pak-War-1971
Asia Pacific21 hours ago

What Did Indira Gandhi Tell Naval Chief Before Indian Navy Bombed Karachi Port In 1971 War?

India marks 4 December as Navy Day to commemorate the Indian Navy’s attack on the Karachi port during the 1971...

Asia Pacific22 hours ago

Indian Navy To Counter Chinese Swarm Drones With New Guns That Can ‘Smash’ UAVs

Countries across the globe are looking for innovative ideas to check the menace of small drones or small unmanned aerial...

TYPHOONS TYPHOONS
Featured23 hours ago

Eurofighter Typhoons ‘Soar & Roar’ In Qatar As Royal Air Force Conducts Drills With Emiri Air Force

The British Royal Air Force and Qatar Emiri Air Force, for the first time in history, have come together for...

Advertisement
Advertisement