According to figures issued by the International Monetary Fund, India has officially surpassed Japan to become the world’s fourth-largest economy. The declaration was made by NITI Aayog CEO BVR Subrahmanyam at the 10th Governing Council Meeting, which centred on “Viksit Rajya for Viksit Bharat 2047.”
Subrahmanyam revealed during a news conference that India’s economy has crossed USD 4 trillion. “We have a USD 4 trillion economy as of today. This is IMF data. “India has now surpassed Japan and is only trailing the United States, China, and Germany,” he remarked.
Subrahmanyam said that India might become the world’s third-largest economy in the next two to three years if current growth tactics are sustained. The IMF’s World Economic Outlook report (April edition) predicts India’s nominal GDP would reach USD 4,187 billion by 2026, slightly ahead of Japan’s predicted USD 4,186 billion.
India, which was the fifth-largest economy until 2024, is expected to remain the fastest-growing major country in 2025 and 2026. The IMF anticipates 6.2% growth in 2025 and 6.3% in 2026.
The Governing Council Meeting also discussed growth strategies for major areas such as manufacturing, services, the green economy, and the informal sector.
