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India may be richer than the whole African continent in terms of the total wealth of its citizens, but due to its massive population, the average wealth per adult in the country is among the lowest in the world in dollar terms.
A new report by financial services provider Credit Suisse indicates that as a consequence of its huge population, the average Indian has total wealth of just $4,645 compared to $5,080 in Africa. And population alone isn’t to blame; if one looks at neighbouring China, the total wealth of the Communist nation is around six times higher than India’s with the citizens there enjoying average wealth of $21,330 per adult, more than four times the average Indian’s wealth.
The richest region in the world is North America, where the average wealth per adult is 73 times higher than in India. It’s followed by Europe, where the average wealth is 31 times higher than what most Indians own.
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