According to a 'New World Wealth' report, in terms of total "individual wealth held", India is ranked 7th richest in the world while Australia is ranked 9th. US is on the top spot.   According to the report this "refers to the priv... (According to a 'New World Wealth' report, in terms of total "individual wealth held", India is ranked 7th richest in the world while Australia is ranked 9th. US is on the top spot.     According to the report this "refers to the private wealth held by all the individuals in each country" where "wealth refers to the net assets of a person. Net assets includes all their assets including property, cash, equities and/or business interests) less any liabilities".   Government funds have been excluded from these figures. We spoke to eminent Economist and Professor at ANU's Crawford School of Public Policy Pof Raghbendra Jha to know more.)