By Soumya Ranjan NITI Aayog CEO BVR Subrahmanyam cited IMF data to claim that India’s economy has overtaken Japan to become the fourth largest in the world. Only the US, China, and Germany have a larger economy than India, which is currently worth USD 4 trillion.
NITI Aayog Chief Executive Officer (CEO) BVR Subrahmanyam stated at a press conference of the 10th NITI Aayog Governing Council Meeting on Viksit Rajya for Viksit Bharat 2047 that India has surpassed Japan to become the fourth-largest economy in the world, citing data from the International Monetary Fund.
As I speak, our economy is the fourth largest in the world. This is not my data, and as I speak, our economy is worth USD 4 trillion. This data comes from the IMF. India is now bigger than Japan, according to BVR Subrahmanyam.
He added that India might overtake Germany as the world’s third-largest economy in the near future.
“The only countries that are bigger are the United States, China, and Germany, and if we follow the plans and considerations, it will only take us another two, three, or four years to become the third largest economy,” Subrahmanyam continued.
Growth projections for India
The nominal GDP for fiscal year 2026 is expected to reach almost $4,187.017 billion, which is marginally higher than Japan’s GDP, which is predicted to reach $4,186.431 billion, according to the IMF’s April edition of its World Economic Outlook report.
India’s economy ranked fifth in the world until 2024.
India is also predicted by the IMF to be the major economy with the fastest rate of growth over the next two years. The World Economic Outlook report projects that the Indian economy will grow by 6.2% in 2025 and 6.3% in 2026, outpacing both its regional and global counterparts.
In contrast, India’s estimates of global economic growth are significantly higher than the IMF’s, which projects 2.8% growth in 2025 and 3.0% growth in 2026.
CEO of NITI Aayog on the expansion of India
The CEO of NITI Aayog claims that the demographic dividend in India will contribute to the country’s rapid economic growth.
As many nations have done in the past, India is at a takeoff stage where it can grow extremely quickly. The Prime Minister urged all states to create vision documents at their own level in light of this and the demographic dividend that India is truly blessed with, which will allow us to grow quickly over the next 20 to 25 years. The development of India already demonstrates this,” Subrahmanyam stated.
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