National: In a momentous announcement that has sent ripples of optimism across the nation, India has officially ascended to become the world’s fourth largest economy, surpassing Japan. This significant achievement was confirmed by NITI Aayog CEO B V R Subrahmanyam, who shared the exhilarating news while briefing reporters after the 10th Governing Council meeting of the NITI Aayog. Subrahmanyam highlighted that the current geopolitical and economic climate is exceptionally favourable for India’s continued growth trajectory.
“We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak,” Subrahmanyam stated with evident pride, underscoring the scale of this economic milestone. Citing data from the International Monetary Fund (IMF), he further elaborated that India’s economic might now surpasses that of Japan. Currently, only the United States, China, and Germany stand ahead of India in the global economic hierarchy. Subrahmanyam exuded confidence, predicting that if the nation remains steadfast in its current plans and strategies, India is poised to become the world’s third largest economy within the next two-and-a-half to three years.
Addressing a query regarding President Donald Trump’s recent assertion about Apple iPhones destined for the US being manufactured domestically rather than in India or elsewhere, Subrahmanyam maintained a pragmatic stance. He acknowledged the uncertainty surrounding future tariffs but asserted, “Given the dynamics, we will be cheap place to manufacture.” This statement suggests a continued belief in India’s competitive advantage as a manufacturing hub, regardless of potential external pressures. Furthermore, looking ahead, Subrahmanyam also revealed that a second phase of the asset monetisation pipeline is currently under preparation and is slated for an official announcement in August. This initiative is expected to further unlock economic value and contribute to the nation’s ambitious growth targets.
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