NEW DELHI — India has overtaken Japan to become the world’s fourth-largest economy, NITI Aayog CEO BVR Subrahmanyam announced on Saturday.
Speaking to the media after the 10th Governing Council meeting of NITI Aayog, Subrahmanyam said the country’s economy has reached the $4 trillion mark.
“We are now the fourth-largest economy. Only the US, China, and Germany are ahead of us,” he said, citing data from the International Monetary Fund (IMF).
He added that if current plans stay on track, India could become the world’s third-largest economy within the next two-and-a-half to three years.
On US President Donald Trump’s recent remark urging Apple to manufacture iPhones in America rather than in India or elsewhere, Subrahmanyam said the tariff outlook remains unclear. “But considering the global dynamics, India will remain a cost-effective manufacturing destination,” he noted.
He also revealed that a second round of the asset monetisation pipeline is in the works and will be announced in August.
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