India has officially overtaken Japan to become the fourth-largest economy in the world, according to B V R Subrahmanyam, CEO of NITI Aayog. Speaking after the 10th Governing Council meeting of NITI Aayog, Subrahmanyam confirmed that India has reached the significant milestone of becoming a $4 trillion economy. Citing data from the International Monetary Fund (IMF), he emphasized that only the United States, China, and Germany now have larger economies than India.
The NITI Aayog chief highlighted the positive geopolitical and economic momentum currently working in India’s favour. He expressed confidence that if current strategies and economic plans are effectively implemented, India could surpass Germany to become the third-largest global economy within the next two and a half to three years.
When asked about recent remarks by former US President Donald Trump, who suggested that Apple should manufacture iPhones in the U.S. rather than India or any other country, Subrahmanyam responded by emphasizing India’s continued advantage as a cost-effective manufacturing hub. He acknowledged uncertainties around global tariffs but reinforced India’s attractiveness for global supply chains.
Additionally, Subrahmanyam revealed that a new phase of India’s asset monetisation pipeline is underway, with the next round of announcements expected in August. This move is seen as part of a broader strategy to enhance infrastructure development and economic growth through public-private partnerships.
