India surpasses Japan to become 4th largest economy: NITI Aayog CEO

India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said.

“We are the fourth largest economy as I speak. We are a $4 trillion economy, and this is not my data. This is data of the International Monetary Fund (IMF). India today is larger than Japan," said Subrahmanyam on Saturday while briefing reporters about the outcome of the the 10th NITI Aayog Governing Council meeting.

He further said India was likely to soon surpass Germany and become the third largest economy in the world.

“It’s only the United States, China and Germany which are larger. If we stick to what is being planned, what is being thought through, it’s a matter of another two to three years; we will become the third largest economy,” Subrahmanyam added.

The April edition of the World Economic Outlook report by the IMF mentioned that India’s nominal GDP for the fiscal year 2026 is estimated to touch nearly $4,187.017 billion, slightly more than the GDP of Japan, projected at $4,186.431 billion.

Till 2024, India was the fifth largest economy across the globe.

The IMF also expects that India will be the fastest-growing major economy in the next two years. The Indian economy is expected to grow by 6.2 per cent in 2025 and 6.3 per cent in 2026, higher than global and regional counterparts, according to the World Economic Outlook report.

“For India, the growth outlook is relatively more stable at 6.2 per cent in 2025, supported by private consumption, particularly in rural areas," the IMF had said.

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