India overtakes Japan to become 4th largest economy at $ 4 trillion: NITI Aayog CEO
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| NITI Aayog Chief Executive Officer (CEO) BVR Subrahmanyam |
According to Niti Aayog CEO BVR Subrahmanyam, India has overtaken Japan to become the world's fourth largest economy and is now poised to overtake Germany to become the third largest economy in the next 2.5 to 3 years and this is not my data—it’s IMF data.
CEO BVR Subrahmanyan, Addressing a press conference on the 10th Governing Council meeting of Niti Aayog on the theme 'Developed States for Developed India 2047', he said that India's economy has reached the figure of 4 trillion US dollars.
The International Monetary Fund (IMF) in its World Economic Outlook report released earlier this month said that India is set to become the fourth largest economy in 2025. India's nominal GDP is projected to grow to $4,187.017 billion, higher than Japan's projected $4,186.431 billion.
India remains the world's fastest-growing major economy and is the only country projected to register growth of over 6% over the next two years.
India is projected to remain the fastest-growing large economy in 2025 and 2026, reaffirming its dominance in the global economic landscape. In contrast, the IMF projects global economic growth to be much lower at 2.8 per cent in 2025 and 3.0 per cent in 2026, reflecting India's exceptional outperformance. The NITI Aayog CEO further said that India is at a critical juncture and is at a stage where it can grow very fastThis rapid growth is expected to push India's GDP to $5,584.476 billion by 2028, making it the third-largest economy, overtaking Germany.
Meanwhile, Germany is projected to have no GDP growth in 2025, followed by a modest 0.9% growth in 2026. The country is projected to suffer the most in Europe due to the ongoing global trade war. Its GDP is projected to reach $5,251.928 billion by 2028.
Japan is also expected to suffer due to the trade war, with its economic growth stagnating at 0.6% in both 2025 and 2026.
The United States, which remains the world's largest economy, is projected to have a GDP of $30,507.217 billion in 2025, followed by China at $19,231.705 billion.
However, according to the IMF, the US—widely considered the catalyst of the current global tariff tensions—is expected to see GDP growth slow to 1.8% in 2025 and 1.7% in 2026.
The euro zone is projected to grow by just 0.8% in 2025, with a slight recovery to 1.2% in 2026. France is projected to record growth rates of 0.6% and 1% for those two years, respectively.
Spain is expected to outperform most European peers with a growth rate of 2.5% in 2025, although its growth is projected to slow to 1.8% in 2026. The United Kingdom is projected to grow by 1.1% in 2025 and 1.4% in 2026.
Sharing more details about the matters discussed in the Governing Council meeting, the Niti Aayog CEO said the Centre and states discussed strategies for manufacturing services, rural, non-agricultural, urban, informal and green economy sectors. Explaining other details of the meeting, held in New Delhi on Saturday, Subrahmanyan said, "We had sub-themes for manufacturing services, rural, non-agricultural, urban, informal and green economy as well as circular economy. These were broad themes.
