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| From a famished nation, India ranks sixth wealthiest country in the world | | 
Jammu, May 21, (Scoop News)-From receiving doles under PL 480 and huge international aid as a famished nation till 1960’s, mortgaging of gold reserves in 1990’s, India has emerged sixth wealthiest country in the comity of nations.
AfroAsia Bank Global Wealth Migration Review report noted that large countries with higher population are advantageously positioned and the countries like India, Sri Lanka, Mauritius and China are emerging as fastest growing global markets.
The report indicates features that will pitch in wealth creation include business process outsourcing, robust outlook for IT sector, good education system, real estate, health care, large number entrepreneurs and vibrant media sectors which will result in a 210 percent rise 10 year wealth growth prediction.
United States of America with a total wealth of US $ 62,584 billion continues to be the richest country in the world followed by China with US $ 24,803 billion at the second place and Japan with US $ 19, 522 billion at the third place, the report said
According to the report, 10 other countries ranked among the world’s wealthiest nations included United Kingdom with US $ 9,919 billion followed by Germany US $ 9,660 billion, India US $ 8, 230 billion, France US $ 6, 649 billion, Canada US $ 6, 393 billion, Australia US $ 6, 142 billion and Italy US $ 4, 276 billion.
It said the wealth across the world is anticipated to rise by 50 percent over the next decade coming to US $ 321 trillion by 2127.
It said, the rankings were made on the basis of private wealth possessed by all the individuals living in each country. The wealth includes all their assets, cash, business interests, equities and properties excluding any liabilities and government funding. The total private wealth held globally amounts to about US $ 215 trillion and there are nearly 15.2 million wealthiest individuals in the world with net assets of US $ one million or more.
The report further said there are about 584,000 multi millionaires in the world each with net assets of US $ 10 million or more while 2,252 billionaires with each with net assets of one billion or more.
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