India Surges to Fourth Largest Economy, Eyes Third Spot by 2028 Amidst Global Economic Shifts
“We are the fourth-largest economy as we speak. We are a USD 4 trillion economy, and this is not my data—it’s IMF data. India today is larger than Japan,” Subrahmanyam confirmed during a press conference following the 10th NITI Aayog Governing Council Meeting. He added, “Only the United States, China, and Germany are currently ahead of us. If we stick to what is being planned and thought through, it’s just a matter of another 2 to 3 years before we become the third-largest economy.”
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The International Monetary Fund (IMF) corroborated this trajectory in its World Economic Outlook report released earlier this month. The report projected India’s nominal GDP to rise to $4,187.017 billion in 2025, comfortably surpassing Japan’s estimated $4,186.431 billion. Furthermore, India’s rapid growth is expected to push its GDP to $5,584.476 billion by 2028, enabling it to overtake Germany and become the third-largest economy.
India continues to be the world’s fastest-growing major economy, and is the only country expected to record over 6% growth over the next two years.