“We are a \$4 trillion economy,” says NITI Aayog CEO as India surpasses Japan

India has officially become the fourth-largest economy in the world, surpassing Japan with a GDP worth \$4 trillion, according to NITI Aayog CEO BVR Subrahmanyam. Speaking after the 10th Governing Council Meeting of NITI Aayog, Subrahmanyam said the figures were backed by International Monetary Fund (IMF) data and marked a historic milestone for the country.

Subrahmanyam confirmed that India now trails only the United States, China, and Germany in global economic rankings. “We are the fourth largest economy as I speak. We are a \$4 trillion economy as I speak,” he said, adding that India’s economic trajectory puts it on course to overtake Germany and become the third-largest economy within the next 2.5 to 3 years.

The NITI Aayog meeting, held in New Delhi and chaired by Prime Minister Narendra Modi, focused on India’s roadmap to becoming a developed nation by 2047. Modi urged states and union territories to align efforts with the national vision of a “Viksit Bharat” (Developed India), emphasizing that it was the aspiration of 140 crore Indians and not just a political goal.

Responding to recent remarks by US President Donald Trump, who suggested Apple should manufacture iPhones in America instead of outsourcing to countries like India, Subrahmanyam said India continues to offer cost-effective manufacturing and remains a top choice for global production.

He also hinted at upcoming economic reforms, revealing that a fresh round of the government’s asset monetisation programme will be announced in August. This move is expected to unlock more value from public sector assets and boost infrastructure development across the country.

India’s rapid rise is being viewed as a result of sustained economic reforms, increased domestic consumption, growing exports, and targeted investments in digital and physical infrastructure. Experts believe this momentum will continue if policy consistency and private sector confidence remain intact.