India has officially overtaken Japan to become the fourth-largest economy in the world, according to NITI Aayog CEO B V R Subrahmanyam. Speaking at a press briefing after the 10th Governing Council meeting of NITI Aayog on Saturday, Subrahmanyam said that India’s economy now stands at $4 trillion, citing data from the International Monetary Fund (IMF).
“We are now the fourth-largest economy in the world. Only the United States, China, and Germany are ahead of us,” Subrahmanyam stated, underscoring the country’s growing global economic stature. He also projected that India could ascend to the third position within the next two-and-a-half to three years, provided current economic strategies and plans remain on track.
Responding to US President Donald Trump’s recent remarks suggesting that Apple should manufacture iPhones domestically rather than in countries like India, Subrahmanyam acknowledged uncertainties surrounding potential tariffs. However, he emphasized that India continues to offer a competitive and cost-effective environment for manufacturing.
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The NITI Aayog CEO also announced that a second phase of the government’s asset monetisation initiative is in the pipeline and will be unveiled in August.
Until 2024, India was the world’s fifth-largest economy. The latest IMF figures affirm that India has now moved ahead of Japan, further solidifying its position as a key player in the global economic landscape.
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