India Becomes World’s Fourth Largest Economy, Overtakes Japan: NITI Aayog CEO

The other delegations, led by Congress’s Shashi Tharoor, DMK’s K Kanimozhi, NCP (SP)’s Supriya Sule, BJP’s Baijayant Panda and BJP’s Ravi Shankar Prasad, will be leaving over the next few days.

As part of the massive outreach, Indian delegations will travel to 33 countries and the European Union’s headquarters. They will meet current and former Prime Ministers, foreign ministers, MPs, opposition leaders, intellectuals, journalists and expat Indians in these countries.

India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam said on Saturday.

Briefing reporters after the 10th Governing Council meeting of Niti Aayog, Mr Subrahmanyam said the overall geopolitical and economic environment is favourable to India.

“We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak,” he said.

Citing IMF data, mR Subrahmanyam said India today is larger than Japan.

“It is only the US, China and 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,” Mr Subrahmanyam.Responding to a question on US President Donald Trump’s recent statement that he expects Apple iPhones that will be sold in the US to be manufactured in America and not India, or anyplace else, Mr Subrahmanyam said, “What the tariff will be, is uncertain. Given the dynamics, we will be cheap place to manufacture.”

He also said that a second round of asset monetisation pipeline is being prepared and it will be announced in August. Responding to a question on US President Donald Trump’s recent statement that he expects Apple iPhones that will be sold in the US to be manufactured in America and not India, or anyplace else, Mr Subrahmanyam said, “What the tariff will be, is uncertain. Given the dynamics, we will be cheap place to manufacture.”

He also said that a second round of asset monetisation pipeline is being prepared and it will be announced in August. 

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