Union Minister Jitendra Singh announced this development on X, expressing gratitude to PM Modi for facilitating this achievement.
Union Minister Jitendra Singh utilized X (previously known as Twitter) on Sunday to announce, “India has surpassed Japan, becoming the world’s fourth largest economy. This is a swift advancement, a significant leap…towards #ViksitBharat! Thank you PM @narendramodi for facilitating this achievement.”
On the previous day, NITI Aayog CEO B V R Subrahmanyam addressed the media concerning this milestone. He remarked, “Only the US, China, and Germany are larger than India, and if we adhere to our plans and the strategies being developed, we will…
Key Highlights:
Current Ranking: India has achieved a global ranking of fourth in nominal GDP, following only the United States, China, and Germany.
Growth Trajectory: With an anticipated growth rate of 6.2% in 2025, India is projected to continue as the fastest-growing major economy for the next two years.
Future Outlook: India aspires to overtake Germany and become the third-largest economy within the next 2.5 to 3 years, dependent on ongoing economic reforms and favorable global conditions.
Contributing Factors:
Manufacturing & Investment: Initiatives such as “Make in India” have enhanced manufacturing capabilities, drawing global investments due to competitive production costs.
Demographics: A youthful and expanding population offers a strong workforce, driving economic growth.
Policy Reforms: Structural reforms and infrastructure advancements have improved the business climate, fostering growth across various sectors.
This achievement highlights India’s rising significance in the global economy and its potential to ascend further in economic rankings in the years ahead.