India has overtaken Japan to become the world’s fourth-largest economy announced NITI Aayog Chief Executive Officer (CEO) BVR Subrahmanyam, citing the International Monetary Fund data. Addressing a press conference of the 10th NITI Aayog Governing Council Meeting on ‘Viksit Rajya for Viksit Bharat 2047’, Subrahmanyam stated that India’s economy has reached the USD 4 trillion mark. He expressed hope to soon become the third largest economy.

“We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak, and this is not my data. This is IMF data. India today is larger than Japan. It’s only the United States, China, and Germany which are larger, and if we stick to, you know, what is being planned, what is being thought through, it’s a matter of another 2, 2.5 to 3 years; we would become the third largest economy,” said Subrahmanyam.

Union Minister Jitendra Singh Lauds PM Modi

Meanwhile, Union Minister Jitendra Singh also expressed happiness on India becoming the fourth largest economy. He thanked Prime Minister Modi for this development and called it giant leap towards Viksit Bharat. He wrote on X, “India overtakes Japan, becomes world’s 4th largest economy. A rapid stride, a giant leap…towards #ViksitBharat. Thanks PM Modi for making this happen.”

IMF’s World Economic Outlook Report

According to the April edition of the IMF’s World Economic Outlook report, India’s nominal GDP for fiscal year 2026 is projected to reach approximately USD 4,187.02 billion. This figure slightly surpasses Japan’s estimated GDP of USD 4,186.43 billion, positioning India ahead of Japan. Until 2024, India was the fifth largest economy in the world.

Furthermore, the global financial body projects that India will remain the fastest-growing major economy over the next two years. The Indian economy is expected to grow by 6.2 per cent in 2025 and 6.3 per cent in 2026, maintaining a solid lead over global and regional peers, the April 2025 edition of the IMF’s World Economic Outlook stated.