India has overtaken Japan to emerge as the world’s fourth-largest economy, according to BVR Subrahmanyam, Chief Executive Officer of NITI Aayog. Citing data from the International Monetary Fund (IMF), Subrahmanyam made the announcement during a press conference held on the sidelines of the 10th NITI Aayog Governing Council Meeting on ‘Viksit Rajya for Viksit Bharat 2047’.
‘We are the fourth-largest economy as I speak. We are a USD 4 trillion economy, and this is not my data. This is IMF data. India today is larger than Japan,’ Subrahmanyam said, highlighting the country’s growing global economic stature.
He also projected an even more ambitious trajectory for the Indian economy, expressing confidence that India could soon surpass Germany to become the third-largest economy in the world. ‘It’s only the United States, China, and Germany which are larger, and if we stick to what is being planned and thought through, it’s a matter of another 2 to 3 years before we become the third-largest economy,’ he added.
Demographic Dividend and Growth Momentum
Subrahmanyam attributed India’s accelerating growth to its favourable demographics and policy direction. “India is at a takeoff stage where it can grow very rapidly, as has been done by many countries in the past,” he said. “Given this, as well as the demographic dividend that India is actually blessed with for the next 20 to 25 years, we can grow rapidly.”
He noted that Prime Minister Narendra Modi has urged all states to prepare their own long-term development strategies in alignment with the national vision for a developed India by 2047, the centenary year of independence. “This growth is already visible,” he remarked.
The development comes at a time when global economic dynamics are rapidly evolving, and India’s ascent marks a significant shift in Asia’s economic balance. The milestone reinforces India’s position as a critical player in the global economy and underscores its potential to drive future growth in the region and beyond.
