India overtakes Japan, now 4th largest economy: NITI Aayog CEO

India has climbed a spot in the global economic rankings, overtaking Japan to become the world’s fourth-largest economy, NITI Aayog CEO BVR Subrahmanyam said on Saturday. The country’s GDP has touched the $4 trillion mark, placing it behind only the United States, China and Germany in size. Subrahmanyam attributed the rise to a combination of domestic reforms and a global environment that is increasingly leaning in India’s favour.  He told reporters in New Delhi , citing the latest IMF estimates to underscore India’s economic ascent. “Only the US, China and Germany are ahead of us. If we stick to our path, we could become the third-largest in just 2.5 to 3 years.”
“The specifics of future US tariffs remain unclear,” he said, “but India will continue to offer a cost-competitive manufacturing base regardless of those dynamics.” He also revealed that a fresh wave of asset monetisation initiatives is in the pipeline. The government is preparing a second round of its asset monetisation programme, expected to be rolled out in August.
Subrahmanyam also said that all States and UTs expressed unanimous solidarity and support to the Armed Forces on Operation Sindoor during the Governing Council Meeting of NITI Aayog in Delhi. "here was anger over what happened in Pahalgam and everybody commended the role and valour of defence forces and leadership of Prime Minister Narendra Modi," he said.