India becomes $4 trillion economy, surpasses Japan, says NITI Aayog CEO
BVR Subrahmanyam said India’s economy is now worth $4 trillion and only the United States, China, and Germany have larger economies.
NITI Aayog CEO BVR Subrahmanyam said on Saturday that India has overtaken Japan to become the fourth-largest economy in the world. Speaking at a press briefing after the 10th governing council meeting of NITI Aayog, Subrahmanyam said India’s economy is now worth $4 trillion and only the United States, China, and Germany have larger economies.
The Niti Aayog CEO quoted data from the International Monetary Fund (IMF) and confirmed that India has now surpassed Japan. "We are the fourth largest economy as I speak. We are a $4 trillion economy as I speak," PTI quoted Subrahmanyam as saying.
"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," he added.
Asked about US President Donald Trump’s recent comments suggesting Apple should manufacture iPhones in America instead of India or elsewhere, Subrahmanyam said it's unclear how tariffs might change. However, he pointed out that India remains a cost-effective place to manufacture goods.
He also mentioned that a new round of the government’s asset monetisation plan is being prepared and will be announced in August.
PM Modi urges states to unite for 'Viksit Bharat'
Prime Minister Narendra Modi on Saturday chaired the 10th Governing Council Meeting of NITI Aayog at Bharat Mandapam in New Delhi, where he called on all states and union territories to work together to transform India into a developed nation by 2047.
Addressing the gathering, Prime Minister Modi emphasised the importance of collective effort in national development. “Every Indian aspires for the country to be a Viksit Bharat. It is not the agenda of any party but the aspiration of 140 crore Indians. If all states work together towards this goal, then we will make stupendous progress. We should commit to developing every state, every city, and every village, and then Viksit Bharat will be achieved much before 2047,” he said.
The meeting was attended by chief ministers and lieutenant governors representing 24 states and seven union territories.
