The Boston Consulting Group's 14th annual report on the global wealth-management industry 'Riding a Wave of Growth: Global Wealth 2014' said India had 175,000 millionaire households in 2013, ranking 15th in the world. India improved its ranking by one position compared to 2012 year and by 2018, India is set to be in the seventh position.

This reports also said global private financial wealth grew by 14.6 per cent in 2013 to reach a total of $152 trillion which is quite stronger rise than 2012. The global wealth grew by just 8.7 percent in the year 2012 and thanks to the equity markets which helped in rising the wealth.

US occupied the first position with 7.1 million millionaire households and China stood second at 2.4 millions. In this process, China overtook Japan. With 15 percent fall in the value of yen against the dollar, Japan could only register 1.2 million millionaire households.

The total number of millionaire households reached 16.3 million in 2013, against 13.7 million in 2012.

(AW: Vamshi)