India has surpassed Japan to become the world’s fourth-largest economy. NITI Aayog CEO B.V.R. Subrahmanyam said, India is now poised to displace Germany from the third rank in the next 2.5 to 3 years. Yesterday, briefing the media after tenth Governing Council Meeting of NITI Aayog in New Delhi, he said India is now a ‘four trillion dollar’ economy as per the IMF data. He said, it’s only the United States, China, and Germany’s economies which are larger than India.
The IMF in its recent report has said that India will remain the world’s fastest-growing major economy.
The IMF had stated earlier this month in the World Economic Outlook report that India continues to remain the world’s fastest-growing major economy and the only country expected to clock over 6 per cent growth in the next two years. According to the IMF, India’s GDP currently stands at 4.3 trillion dollar. India’s GDP was 2.1 trillion dollar in 2015, since then, the country has more than doubled its economy. According to the report, the high rate of growth will see India’s GDP increasing to 5.5 trillion dollar in 2028 overtaking Germany to become the third-largest economy.
The IMF has projected a zero growth rate for Germany in 2025, followed by 0.9 per cent in 2026 as it is expected to be hit the hardest among the European countries due to the ongoing global trade war.
The GDP of the US, the world’s largest economy, has been pegged at 30.5 trillion dollar for 2025, while that of China, the second biggest, is around 19.2 trillion dollars.
