 "India is world's 4th largest economy overtaking Japan: Niti Aayog chief")
India has overtaken Japan to become the fourth-largest economy in the world, Niti Aayog CEO B V R Subrahmanyam said on Saturday.
He shared the news while speaking to reporters after the 10th Governing Council meeting of Niti Aayog.
Subrahmanyam said the overall geopolitical and economic environment is currently favourable for India.
“We are the fourth-largest economy as I speak. We are a $4 trillion economy,” he stated.
Citing IMF data, he added that India is now ahead of Japan in terms of economic size.
“Only the US, China, and Germany are larger than India. If we stick to the current plans and strategies, in 2.5 to 3 years, we will become the third-largest economy,” Subrahmanyam said as quoted by Business Standard.
Responding to US President Donald Trump’s comment that iPhones sold in the US should be made in America, not in India or elsewhere, Mr Subrahmanyam said it’s unclear what the tariffs will be, but India will remain a cost-effective place to manufacture.
He also said that the second phase of the asset monetisation pipeline is being prepared and will be announced in August.
This is a developing story.
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