India Becomes World’s 4th Largest Economy, Surpassing Japan: NITI Aayog CEO #newsupdate #india #news
India Becomes World’s 4th Largest Economy, Surpassing Japan: NITI Aayog CEO #newsupdate #india #news #breakingnews #bharat #jammu #kashmir #sanatani #newzfactor
Newsupdates:
Recent reports, citing data from the International Monetary Fund (IMF), indicate that India has surpassed Japan to become the world’s fourth-largest economy.
Here are the key details:
* Timing: This shift is primarily projected for 2025 (FY26). While some reports from NITI Aayog (India’s government think tank) state India is already the fourth largest “as of speaking,” the IMF projections generally point to 2025 as the year of the definitive overtake.
* GDP Figures: The IMF’s April 2025 World Economic Outlook report projects India’s nominal GDP to reach approximately $4.19 trillion in 2025, marginally exceeding Japan’s estimated GDP for the same period.
* Context:
* Until 2024, India was the fifth-largest economy globally.
* The US, China, and Germany remain the three largest economies, in that order, ahead of India.
* Growth Trajectory: India is expected to remain the world’s fastest-growing major economy, with the IMF projecting over 6% growth in the next two years. This high growth rate is a significant factor in its rapid ascent in global economic rankings.
* Future Projections: NITI Aayog CEO B.V.R. Subrahmanyam has stated that India is poised to displace Germany from the third rank in the next 2.5 to 3 years. The IMF also projects India’s GDP to increase to $5.5 trillion by 2028, further solidifying its position and potentially overtaking Germany.
* Factors contributing to India’s growth: This includes strong domestic consumption (particularly in rural areas), increased private and foreign investment, and a diverse economy spanning IT, services, agriculture, and manufacturing.
* Per Capita Income: While India’s overall GDP has grown significantly, it’s important to note that its per capita income, while having doubled in the last decade, is still considerably lower than that of advanced economies.