India Overtakes Japan To Become 4th Largest Economy At USD 4 Trillion: NITI Aayog CEO

New Delhi: NITI Aayog Chief Executive Officer (CEO) B.V.R. Subrahmanyam said that India has overtaken Japan to grow to be the arena’s fourth-largest financial system, mentioning knowledge from the International Monetary Fund (IMF). Speaking at a press convention all over the 10th NITI Aayog Governing Council Meeting on ‘Viksit Rajya for Viksit Bharat 2047’, he introduced that India’s financial system has reached the USD 4 trillion mark. 

“We are the fourth-largest economy as I speak. This is IMF data, not mine. India today is larger than Japan. Only the United States, China, and Germany are ahead of us. If we continue with the current plans and strategies, we are likely to become the third-largest economy in another 2 to 3 years,” he stated.

According to the IMF’s April version of the World Economic Outlook file, India’s nominal GDP for fiscal 12 months 2026 is projected to achieve round USD 4,187.017 billion, somewhat forward of Japan’s estimated GDP of USD 4,186.431 billion. Until 2024, India used to be ranked as the arena’s fifth-largest financial system. 

The IMF tasks that India will stay the fastest-growing main financial system over the following two years, with GDP enlargement anticipated at 6.2 % in 2025 and 6.3 % in 2026, outpacing international and regional friends. This reinforces India’s rising dominance within the international financial panorama, particularly as international enlargement is projected to stay subdued at 2.8 % in 2025 and 3.0 % in 2026.

Subrahmanyam emphasised that India is at a turning level and in a take-off degree the place it has the prospective to develop impulsively. 

He additionally shared insights into the discussions held all over the Governing Council Meeting, the place the Centre and States mentioned methods throughout key sectors together with production, products and services, rural and non-farm spaces, city construction, the casual sector, the fairway financial system, and the round financial system. “We had sub-themes around all these areas, which formed the broad agenda of the meeting,” he added.