Economic Milestone: India Replaces Japan as World’s 4th Largest Economy
India has officially overtaken Japan in the world’s largest economy race. India now stands as the 4th largest economy with a $4 trillion GDP, according to NITI Aayog CEO B.V.R. Subrahmanyam. This milestone positions India among the top four, behind the United States, China, and Germany in terms of economic size.
“It is only the US, China, and Germany that are larger than India, and if we stick to what is being planned and thought through, in 2.5–3 years, we will be the third largest economy,” Subrahmanyam announced on Saturday during the 10th Governing Council meeting of NITI Aayog.
The IMF’s World Economic Outlook April 2025 projected the GDP of India to reach $4.19 trillion, surpassing Japan’s economic output. This growth is expected to boost private consumption, increase capital spending, and expand the workforce. The per capita income of the nation has also seen a rise since 2014.
Subrahmanyam also highlighted the favourable geopolitical and economic environment, which contributes to the growth of the nation. The second round of asset monetisation is underway, and the announcements are expected to be done in August.
Many political leaders lauded the recent milestone. The CM of Andhra Pradesh attributed the milestone to PM Modi’s visionary leadership and strong governance. He expressed on X by quoting, “According to International Monetary Fund (IMF) data, India will surpass Germany to become the third-largest economy globally by 2028. Today, we are at a juncture where all states must come together and join forces to achieve the goal of Viksit Bharat 2047.”
The achievement is a significant milestone for India, and the focus remains on sustainable growth via strategic planning, investment in multiple sectors, and cultivating an environment of innovation and development.
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