India has surpassed Japan to become the world’s fourth-largest economy, according to NITI Aayog CEO BVR Subrahmanyam, referencing IMF data. India is now a USD 4 trillion economy, trailing only the US, China, and Germany.
India has officially surpassed Japan to become the world’s fourth-largest economy, NITI Aayog CEO B.V.R. Subrahmanyam announced, referencing data from the International Monetary Fund (IMF). The statement was made during a press conference at the 10th Governing Council Meeting of NITI Aayog, focused on the “Viksit Rajya for Viksit Bharat 2047” vision.
“As of today, we are the fourth-largest economy in the world. India is now a $4 trillion economy, and this isn’t based on our own estimates—this is IMF data. India has overtaken Japan,” Subrahmanyam stated.
He also highlighted that India is on track to overtake Germany in the near future, positioning itself as the world’s third-largest economy.
“Only the United States, China, and Germany are currently ahead of us. If we continue with our current trajectory and implement planned strategies, we could become the third-largest economy within the next two to three years,” he added.
India’s Growth Estimates
According to the April edition of the IMF’s World Economic Outlook report, India’s nominal GDP for the fiscal year 2026 is projected to reach approximately $4,187.02 billion—slightly surpassing Japan’s estimated GDP of $4,186.43 billion. This marks a significant shift, as India was the world’s fifth-largest economy until 2024.
The IMF also forecasts India to remain the fastest-growing major economy over the next two years. The Indian economy is expected to grow by 6.2% in 2025 and 6.3% in 2026, outpacing both global and regional growth rates.
In comparison, global economic growth is projected at 2.8% for 2025 and 3.0% for 2026—well below India’s forecasted performance.
NITI Aayog CEO on India’s Growth Trajectory
NITI Aayog CEO B.V.R. Subrahmanyam highlighted the robust pace of India’s economic growth and emphasized the crucial role of the country’s demographic dividend in sustaining this momentum.
“India is at a takeoff stage where it can grow very rapidly, as many countries have done in the past,” Subrahmanyam stated. “With the demographic dividend that India is fortunate to have for the next 20 to 25 years, we have a unique opportunity for sustained growth. In light of this, the Prime Minister has urged all states to prepare their own vision documents. This proactive approach is already reflected in India’s accelerating economic performance.”
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