- NEW DELHI — India has surpassed Japan to become the world's fourth-largest
economy and is now poised to displace Germany from the third rank in the next
2.5 to 3 years, said NITI Aayog Chief Executive Officer (CEO) B.V.R.
Subrahmanyam.
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- “We are the fourth largest economy as I speak. We are a USD
4 trillion economy as I speak, and this is not my data. This is IMF data. India
today is larger than Japan," said Subrahmanyam at a press conference of
the 10th NITI Aayog Governing Council Meeting.
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- "It's only the United States, China, and Germany which
are larger, and if we stick to, you know, what is being planned, what is being
thought through, it's a matter of another 2, 2.5 to 3 years; we would become
the third largest economy,” Subrahmanyam pointed out.
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- The IMF had stated earlier this month in the World Economic
Outlook report that India is poised to become the world’s fourth-largest
economy in 2025, with the country’s nominal GDP rising to $4,187.017 billion to
surpass Japan’s GDP pegged at $4,186.431 billion.
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- According to the report, India continues to remain the
world’s fastest-growing major economy and the only country expected to clock
over 6 per cent growth in the next two years.
Also read: India has become 4th largest economy, ahead of Japan: NITI CEO
- The high rate of growth will see India’s GDP increasing to $5,584.476
billion in 2028 as it overtakes Germany to become the third-largest economy.
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- The IMF has projected a zero growth rate for Germany in
2025, followed by 0.9 per cent in 2026 as it is expected to be hit the hardest
among the European countries due to the ongoing global trade war. Germany’s GDP
is projected at $5,251.928 billion in 2028.
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- Japan, on the other hand, is expected to be hard hit by the
global trade war, with its growth stagnating at 0.6 per cent for 2025 and 2026.
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