New Delhi: India has surpassed Japan to become the world’s fourth-largest economy, NITI Aayog CEO BVR Subrahmanyam said, citing IMF data.
With a USD 4 trillion economy, India ranks behind only the US, China, and Germany.
“We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak,” he said on Saturday after the 10th Governing Council meeting of Niti Aayog.
He noted that the global geopolitical and economic climate is environment is favourable to India, referencing IMF data to highlight that India has surpassed Japan in economic size. “It is only the US, China, Germany, which are larger than India and if we stick to what is being planned and what is being thought through, in 2.5-3 years, we will be the third largest economy,” said Subrahmanyam.
When asked about US President Donald Trump’s recent statement regarding the manufacturing of iPhones in the US and not India, he said: “What the tariff will be, is uncertain. Given the dynamics, we will be a cheap place to manufacture.”
He added that a second round of asset monetisation pipeline is being prepared and it will be announced in August.