India accounts for a meagre 0.15 percent of an estimated USD 1.6 trillion total global wealth held in Switzerland's banking system. (JPN)
UK has retained its top position with highest share of close to 20 percent of global wealth in Swiss banking system, followed by US, West Indies, Germany and Guernsey in the top-five in terms of exposure to banks in Switzerland.
Amid all the ruckus over huge amounts of illicit wealth stashed by Indians in Swiss banks, the latest official data released by Switzerland's central banking authority SNB exudes that Indian money in Swiss banks rose by 43 percent during 2013 to close to Rs 14,000 crore (2.03 billion Swiss francs), pushing its global ranking up from 70th at the end of 2012.
India now ranks higher than Pakistan, whose position has now slipped from 69th to 74th.
However, China continues to rank higher than India, although it has slipped from 26th to 30th.
The countries ranked below India include Philippines, Kazakhstan, Bahrain, Iran, Pakistan, Mauritius, Bangladesh, Palestine, Barbados, Macau SAR, Iraq, Brunei and Zimbabwe.
India accounts for a meagre 0.15 percent of an estimated USD 1.6 trillion total global wealth held in Switzerland's banking system.