India has now become the fourth-largest economy in the world, overtaking Japan, according to NITI Aayog CEO BVR Subrahmanyam. He cited IMF data that places India’s GDP at approximately USD 4.19 trillion, just ahead of Japan’s, marking a significant milestone in the country’s economic trajectory. Subrahmanyam noted that India was the fifth-largest economy until 2024 and now only trails behind the US, China, and Germany. If current trends continue, he projected that India could become the third-largest economy within the next 2.5 to 3 years.
The IMF’s World Economic Outlook report confirms this rise, forecasting India’s nominal GDP to reach USD 4.187 trillion in 2025. It also highlighted India’s economic progress over the past decade, with per capita income doubling from USD 1,438 in 2013–14 to USD 2,880 in 2025. However, the report slightly lowered India’s growth forecast to 6.2 percent for 2025–26, attributing the revision to global economic uncertainties and trade tensions. Despite this, India’s outlook remains strong, particularly due to resilient private consumption in rural areas.
NITI Aayog’s vision document Viksit Rajya for Viksit Bharat @ 2047 outlines a long-term strategy to transform India into a developed country by 2047. The plan envisions a USD 30 trillion economy with per capita income levels comparable to high-income nations. The roadmap includes reforms across six foundational areas: macroeconomic strategy, citizen empowerment, sustainable growth, technological leadership, global engagement, and governance. This framework aims to drive India’s transition from an emerging market to a leading global economy within the next two decades.
Post Your Comments