India has surpassed Japan to become the world’s fourth-largest economy, with its GDP reaching US$ 4 trillion, according to IMF data cited by NITI Aayog CEO BVR Subrahmanyam. He projected that India could rise to third place within three years.
At the 10th Governing Council Meeting of NITI Aayog held in New Delhi, NITI Aayog CEO BVR Subrahmanyam announced that India has overtaken Japan to become the world’s fourth-largest economy. Citing data from the International Monetary Fund (IMF), he confirmed that India’s economy is now valued at US$ 4 trillion. He stated, “We are the fourth largest economy as I speak. We are a US$ 4 trillion economy as I speak,” as quoted by PTI. Subrahmanyam added that if the country continues to follow the current economic trajectory, India could move up one more position globally in the next few years. “If we stick to what is being planned and what is being thought through, in 2.5-3 years, we will be the third largest economy,” he said.
During the press briefing, Subrahmanyam also addressed recent remarks by US President Donald Trump, who suggested that Apple should manufacture iPhones in the United States rather than in India or other countries. In response, Subrahmanyam said the implications of potential changes in tariffs remain uncertain. However, he underlined India’s manufacturing advantage, noting that the country continues to offer a cost-effective environment for production.
He also shared that a fresh round of the government’s asset monetisation programme is currently in the works and will be unveiled in August. The initiative is part of India’s ongoing strategy to boost infrastructure investment and enhance public asset efficiency.
The Governing Council Meeting, chaired by Prime Minister Narendra Modi at Bharat Mandapam, brought together chief ministers and lieutenant governors from 24 states and seven union territories. The Prime Minister called on all regions to work in unison to realise the vision of a developed India by 2047.
In his address, PM Modi underlined the need for collaborative development across all regions. “Every Indian aspires for the country to be a Viksit Bharat. It is not the agenda of any party but the aspiration of 140 crore Indians. If all states work together towards this goal, then we will make stupendous progress. We should commit to developing every state, every city, and every village, and then Viksit Bharat will be achieved much before 2047,” he said.
The meeting served as a platform for dialogue between the Centre and states, aiming to align strategies for national development. Modi’s emphasis on inclusive progress and state-centred development highlights the Centre’s focus on strengthening cooperative federalism to drive India’s growth story.
