India Becomes 4th Largest Economy In The World, Niti Aayog Says We Surpassed Japan | Watch

India Becomes 4th Largest Economy In The World, Niti Aayog Says We Surpassed Japan | Watch

Now we have breaking updates coming in. India has officially surpassed Japan to become the world’s fourth largest economy. It’s a big economic milestone. Niti Aayog CEO has confirmed that India’s nominal GDP has touched $4.187 trillion edging past Japan’s $4.186 trillion. And according to the latest IMF data, the announcement came at the 10th governing council meeting of Niti Aayog chaired by Prime Minister Narendra Modi. The the the reason for the PM giving this call last time that India is at a turning point. It’s at a takeoff stage and this is at the cusp of a change in our growth trajectory and given that we have solved a lot of issues regarding basic services access to basic services and and having reduced extreme poverty to less than 5% almost I think the country is at a takeoff stage where it can grow very very rapidly as has been done by many countries in the past. So this was the context given this as well as the demographic dividend that India is actually blessed with for the next 20 25 years that we can grow rapidly. The prime minister gave a call that all states to prepare uh a vision documents at their uh level and this is already visible in the growth of India. We are the fourth largest economy as I speak. We are a 4 trillion dollar economy as I speak and this is not my data. This is IMF data. India today is larger than Japan. So it’s only the United States, China and Germany which are lasted. And if we stick to you know what is being planned, what is being thought through it’s a matter of another two two and a half to three years we would become the third largest economy. And in this the reason for the prime minister giving this call is this is a long haul and we have to do it for about uh 25 years. States are fundamental. Be it industrial development, be it services, be it agriculture, be it with human capital, everything has to be done in states. And if you do not have visions for states individually, you know, it’s like actually having a bulockart with only one, you know, bull, not two, it will not run. So if if the vehicle has to move forward, you need both center and states to work in tandem. And the So this is great news coming in. My colleague Mohit Bhatt is on the broadcast with us and Mohit this clearly means according to the IMF data we are well on track to become the economic powerhouse in the 5 trillion economy the target that has been set by the government we are well on track for that well let’s impact Pratiba it’s a proud moment for every single citizen of the country now NITI Aayok CEO while addressing a press conference after the NITI Aayok’s meeting with all the state chief ministers which was being chaired by Prime Minister Narendra Moti have come out and stated that India has overtaken Japan when it comes to the largest economy in the world. Now India is the fourth largest economy and by 2027 and that is the target of the Indian government. India will become the third largest economy in the world. Currently India is a $4 trillion economy and by 2027 India aims to become a $5 trillion economy reaching up to the third place in the world. So this is something which is a a big news coming in that given the fact that how there have been there there have been various conflicts going on world over but the growth of India is on the track. India is now the fourth largest economy in the world. We have overtaken Japan and clearly by 2027 and as NITIO CEO clearly stated that within 2 to 2.5 years we aim to become the third largest economy in the world and that is the vision of Prime Minister Narendra Modi by 2027 we need to become the third largest economy and by 2047 we need to we have to fulfill our dream of having Vixit Bharat 2047. So it’s a major announcement coming in from none other than Miti Aayok CEO who has cited the data of IMF saying that we have overtaken Japan data from IMF and this is a big milestone for the country. Moit just a moment stay with us. We have Shhat Kohli senior economist on the broadcast with us. Uh good morning and thank you for joining us Mr. Shhat Kohli. A lot of celebrations in order India now officially the fourth largest economy. This is a big milestone for India isn’t it? Uh good morning and good morning to the viewers of Times now. Indeed, we have crossed Japan and we are about 4.189 trillion. So we just have Germany, China and America ahead of us. I think it’s a big milestone and u this is this is a very calculated outcome of what has been done over the last 11 years. In 2014 we were less than $2 trillion and the last 11 years we have more than doubled you know in the uh what we could not achieve from 1947 to 2014. We have done more than that over the last 11 years. This speaks volumes of the fact that the economic policies which were laid down by this NDA government over the last decade have have yielded results. I mean the list is very very long from GST to insolvency from various welfare schemes like mudra yuja ula yoja startup India stand up India I think the big push has been making India because uh today India stands in the China plus one policy there today President Trump had to say that you know tell Tim Cook that please do not manufacture in India so he’s somewhat scared of India’s economic prowess shall I say and then of course infra infrastructure push for me is the biggest takeaway in this whole growth because more than 100 lakh cr spent on ports, airports, roads, highways. I think that has done the magic to the country because it has generated employment. It has brought 25 cr plus people out of poverty in the multi-dimensional poverty index. I think the country has transformed and I think the goal of being third largest uh for me looks nearer now. In fact, I won’t be surprised if we reach there even before 2027. Okay. All right. That’s very very encouraging. Thank you so much for joining us. We have Ajua, economist also on the broadcast with us. Thank you for joining us and good morning Ajua. Very very encouraging. And look at the numbers. India’s nominal GDP has touched $4.87 trillion. So it wouldn’t be wrong to say we are racing towards the $5 trillion economy mark. I would I would fully agree with that. Because why we did not expect the rate of growth of the fourth quarter of the current year to be above 6.5%. But it does seem you know though the final figures come out much later from the national statistical office that it we seem to have had a very good quarter very good second half of the current year and that is how we are now heading towards the five five trillion mark and I would think that uh during the current year itself We might get one more news that not only have we gone past Japan to become the fourth maybe that when I say current year now we moved on to 26 that we also gone past Germany to become the third largest. Okay. All right. And what do you think are the reasons for the success? What do you think has worked for India? Because there have been several changes that we’ve witnessed as well over the past many years. What do you think is the reason for this success for this milestone? Uh one I think our agriculture though still highly linked to the monsoon has has done well in the second half. I’m taking a second half that is uh starting from last last October to all the way to March we did we did agriculture the the monsoon gods held out we had a good good monsoon and the production of both wheat as well as petty the important point is hitheru we were more of a wheat producing nation but this time we have made a major achievement of becoming the probably the world’s largest producer of petty also rise and that is important okay and how sustainable do you think India’s current growth trajectory is do you see any challenges on the path m retaining 6 and a half% rate of growth is absolutely sustainable but we have to be we have to make sure that the details the small little details which are to be attended to those those get the attention which they deserve and I meaning our services sector is really going to be the driving sector much more than our manufacturing manufacturing good that depends upon a lot of you know our ability to export those what happens in the United States with respect to tariffs and those kind of things but services which are m which are delivered by Indian human beings that those continue to remain in the driving seat and the world does need services and we are we are no longer talking about services only from illiterate people services which are very much state-of-the-art and which are required by a large number of people around the world that okay digital intellectual and you know whatever you one might call it there they have they bring a lot of value added and our population of 1.4 4 billion. I think we are going to be able to get so-called dividend from if we continue to kill them. Population is going to be the engine that drives the growth. Sajua, thank you for joining us. We also have economist Sunil Alag on the broadcast with us. Good morning and thank you for joining us. And what a milestone it is. Uh India officially surpassing Japan to become the world’s fourth largest economy. It’s a big major uh economic milestone, isn’t it? Yeah, it is. But I mean we have to now how how sustainable it is depends upon which are three or four years. We used to do every 3 years but planning in in in most companies but today the world is changing. Trump is beginning to employ what kind of deals do we have to sustain this? That’s the most important because today we’ve become the fourth largest. Japan is not going to sit back and allow us to remain there and neither of the three countries we are assuming that they will continue to grow at a certain pace but they have to do something. So ultimately at the end of the day today we have become the fourth largest are aiming at the third third largest country in the world but it depends on on the people because services manufacturing everything depends on other countries which are coming up in in whatever they are doing. So sustaining it it becomes more important. Do you think it’s sustainable? Beautiful. I think it is. But what is happening in the world today is it is sustainable because what is happening in the world today is very important because there are so many wars which are taking place and so many areas which that today to predict something is impossible. But we have to move towards manufacturing because the what what has Trump said? Trump has told Cook that look if you’re setting up factories in India for Apple then we are we going to have tariff extra tariff on you. So Mr. Goyel’s job has become more sustainable than ever. He’s now going to do whatever he has to do. But look becoming the fourth largest by itself 144 million population is growing every day. Now the important thing is education and population. The education system that the government comes up with every budget and every year is very very important because today the opposition must opposition in parliament becomes one very important thing to make it sustainable. It’s not Modi alone who will take the to the fourth largest. In fact, it’s going if it’s a success of the entire country, everyone has to be together in it. We’ll have to leave it at that. Thank you so much for joining us with your expertise on the matter. India, in fact, now stands only behind United States, China and Germany in terms of the economic size. Big milestone for India. With that quick break, we’ll be right back.

Crossing a big economic milestone, India has officially surpassed Japan to become the world’s 4th largest economy. NITI Aayog CEO confirmed that India’s nominal GDP has touched, 4.187 trillion dollars, edging past Japan’s 4.186 trillion dollars. Watch the video to know more.

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Chapters:
0:00 India Surpasses Japan: Fourth Largest Economy Milestone
0:49 Understanding India’s Economic Takeoff Stage
1:34 Projected Growth: India Aiming for Third Largest Economy by 2027
2:45 Celebrating India’s Economic Achievements: A Vision for 2047
4:15 Expert Insights: Economic Policies Driving India’s Growth
5:30 Infrastructure Development: Key to India’s Economic Transformation
6:43 Sustainable Growth: Factors Contributing to India’s Economic Success
8:08 Agricultural Achievements: India’s Rise as a Major Producer
9:53 The Role of Services in India’s Economic Future
10:50 Challenges Ahead: Sustaining India’s Economic Growth