India now fourth-largest economy, ahead of Japan: Niti Aayog CEO
INDIA, MAY 25 : India has climbed a spot in the global economic rankings, overtaking Japan to become the world’s fourth-largest economy, NITI Aayog CEO BVR Subrahmanyam said on Saturday. The country’s GDP has touched the $4 trillion mark, placing it behind only the United States, China and Germany in size.
Speaking after the 10th Governing Council meeting of the policy think tank, Subrahmanyam attributed the rise to a combination of domestic reforms and a global environment that is increasingly leaning in India’s favour.
“As I speak, we are now the fourth-largest economy. We’ve reached a $4 trillion economy,” he told reporters, citing the latest IMF estimates to underscore India’s economic ascent. “Only the US, China and Germany are ahead of us. If we stick to our path, we could become the third-largest in just 2.5 to 3 years.”
The milestone comes amid an evolving global economic landscape where India is positioning itself as a key alternative manufacturing hub. Subrahmanyam responded to recent remarks by former US President Donald Trump, who said iPhones sold in the US should be made domestically rather than in countries like India.
“The specifics of future US tariffs remain unclear,” he said, “but India will continue to offer a cost-competitive manufacturing base regardless of those dynamics.”
He also revealed that a fresh wave of asset monetisation initiatives is in the pipeline. The government is preparing a second round of its asset monetisation programme, expected to be rolled out in August.
The economic milestone comes at a politically significant time, just as India looks to deepen its role in global supply chains and attract fresh investments under its ‘Make in India’ push.
-PTI
