India 6th richest country in the world; US world's wealthiest (2024)

FAQs

What is the rank of India in richest country? ›

India's GDP per capita

This makes India stand at the 129th position out of about 200 countries in GDP per capita ranking in 2023. But when it comes to world GDP rankings, India stands at 5 after the US, China, Japan and Germany.

GDP is the total value of goods & services produced in a nation in a year. India is the fifth-largest economy globally, showing a steady growth rate. Key contributors to India's economy include agriculture, technology, handicrafts, and outsourcing services.

Which is the wealthiest country? With an overall net worth of $145.8 trillion and a GDP of $25.46 trillion, the US is the number one richest nation in the world.

According to the IMF, France dropped its stance on GDP analogies last year. 6- India: According to the IMF, India has the world's sixth-largest economy.

On a PPP basis, China is at 1st, and India is at 3rd place. Both countries share 20.51% and 26.87% of the total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia's GDP.

The richest country in the world is Luxembourg.

India is ranked 5th in world's GDP rankings in 2024.

India has become the 5th largest economy of the world, why people still consider it as an underdeveloped and poor country? As a whole, India is a very large economy and on the PPP basis, it's the 3rd largest. However, India's wealth is shared by 1.3 billion Indians and thus, individually, India is among the poorest.

What is India's position in the world? ›

The US has pulled further ahead of China in the race for world's biggest economy, thanks in part to a vibrant American consumer.

The U.S. has the largest GDP in the world and China has the second largest.

According to the CIA World Factbook and Forbes, the Arabian nation of Qatar holds the title of the "richest country of the world," boasting an annual average per capita income of $103,768.60. For a little perspective, that's more than double the average annual per capita income in the United States!

From a high of more than 24% of the world economy in 1700 to 4% of global GDP at the end of British rule, India's fall from its preeminent position at the top to the very bottom was a direct consequence of the pernicious impact of colonial rule.

India occupies the seventh position in the world based on land area. Russia is the largest country occupying 11% of the world's total landmass.