India is becoming richer! Wealth rose more than 200% in last 15 years

India is becoming richer day-by-day compared to countries such as the US, Britain, Japan, France, Germany and Brazil.

Its wealth has increased by whopping 211% over the last 15 years and only four countries — Indonesia, China, Russia and Australia — have performed better than India.

In India, per capita wealth increased from $900 in 2000 to $2,800 in 2015. India is now the 10th richest country in the world, ranked according to total individual wealth that refers to private wealth held by all the individuals in each country.

However, if we rank India according to per capita wealth, it is placed last in the top 20 countries. According to the New World Wealth's report on the wealthiest 20 countries in the world, when we look at per capita wealth, Switzerland is at the top spot with $285,100 per capita wealth followed by Australia ($204400), the US ($150600) and the UK ($147600).

One reason behind increase in wealth in India is population explosion. India and Indonesia make it to the top 20 richest list due to their large populations. On a per capita basis, the two countries are quite poor.

Indonesia witnessed a rise in wealth by 362%, while for China, it was 341%, Russia 253% and Australia 248%. At the same time some of the major western countries witnessed a marginal increase in their wealth during the same period.

If we talk about Japan, its wealth increased by only 39%, while the US and the UK witnessing 41% and 58% rise respectively.

(Image: Indiatimes)