India has moved up one position to 126 in terms of gross domestic product per capita of countries, still ranked lower than all its BRICS peers, while Qatar remains the world's richest on this parameter, as per International Monetary Fund data.
The data, which forms part of the latest World Economic Outlook report of the IMF, ranks over 200 countries in terms of per capita GDP based on purchasing power parity.
India has seen its per capita GDP rise to $7,170 in 2017, from $6,690 last year, helping improve its rank by a position to 126.
Among BRICS (Brazil, Russia, India, China and South Africa) countries, India has the lowest per capita GDP. Russia boasts of a GDP per capita of $27,900, while for China, it stood at $16,620, Brazil at $15,500 and South Africa at $13,400.
Interestingly, as per a recent Credit Suisse report, India is home to 2.45 lakh millionaires with a total household wealth of $5 trillion.
The United States has failed to make it to the top 10 and is ranked 13th with a per capita GDP of $59,500, while the United Kingdom is ranked even lower.
According to a Fortune magazine report based on the IMF data, several top-ranking countries such as Qatar and Brunei “have fuel and oil propelling their economies,” while investment and strong banking systems have helped propel economic growth in other countries like Iceland and Ireland.
Also Read: India Jumps to 100th Spot in Ease of Doing Business Rankings
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