New Delhi, May 25: India has overtaken Japan to become the world’s fourth-largest economy, according to BVR Subrahmanyam, Chief Executive Officer of NITI Aayog, citing figures from the International Monetary Fund (IMF).
Speaking at a press briefing during the 10th Governing Council Meeting of NITI Aayog on the theme ‘Viksit Rajya for Viksit Bharat 2047’, Subrahmanyam said the country’s nominal GDP has reached the $4 trillion mark.
“We are the fourth-largest economy as I speak. We are a $4 trillion economy, and this is not my data—it is IMF data,” Subrahmanyam stated. “India today is larger than Japan. Only the United States, China, and Germany are ahead. If we follow the current trajectory and planning, it’s just a matter of two to three years before we become the third-largest economy.”
The CEO pointed to the International Monetary Fund’s April 2025 World Economic Outlook report, which projects India’s nominal GDP for fiscal 2026 at $4,187.017 billion—just ahead of Japan’s estimated GDP of $4,186.431 billion.
Until 2024, India ranked as the world’s fifth-largest economy. With this shift, it now trails only the U.S., China, and Germany.
Subrahmanyam’s remarks come as India continues to push for long-term economic transformation under its 2047 development vision, marking 100 years of independence.
