Desk:India has taken one other vital leap on the worldwide financial stage. B.V.R. Subrahmanyam, CEO of NITI Aayog, introduced on Saturday that India has overtaken Japan to change into the world’s fourth-largest financial system. The announcement is predicated on the newest figures launched by the Worldwide Financial Fund (IMF).
Talking at a press convention following the tenth Governing Council Assembly of the NITI Aayog held in New Delhi, Subrahmanyam mentioned, “As I converse, India has now change into the fourth-largest financial system on this planet. Our financial system has crossed the $4 trillion mark. This isn’t my declare — it’s primarily based on IMF information. India has now surpassed Japan.”
He additional famous that solely the USA, China, and Germany are forward of India now. If the present tempo of development continues, India may change into the world’s third-largest financial system throughout the subsequent 2–3 years.
In keeping with the IMF’s April 2025 version of the World Financial Outlook, India’s GDP is projected to succeed in roughly $4.187 trillion in 2026, barely edging out Japan’s anticipated GDP of $4.186 trillion. As of 2024, India was ranked the fifth-largest financial system globally. The IMF forecasts that India will develop at 6.2% in 2025 and 6.3% in 2026, in comparison with the projected world development charges of two.8% and three% for these years. These figures underscore the fast acceleration of India’s financial progress.
Robust Strides Towards “Viksit Bharat 2047”
Throughout the assembly, the central and state governments engaged in detailed discussions on the theme “From Developed States to Developed India 2047.” The NITI Aayog CEO highlighted that essential areas like manufacturing, companies, rural and concrete non-agricultural sectors, the casual financial system, and inexperienced and round economies have been key subjects of dialog.
“India is now at an inflection level the place its financial system can take off at a fast tempo. We’re within the take-off stage,” Subrahmanyam remarked, emphasizing the transformative potential of India’s present financial momentum.