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IMF Data: India Pips...

IMF Data: India Pips Japan to Become Fourth Largest Economy in the World

India has surpassed Japan to become the fourth largest economy in the world, said NITI Aayog’s Chief Executive Officer (CEO), BVR Subrahmanyam on May 25, while referring to International Monetary Fund (IMF) data.

26 May 2025 11:06 AM IST

India has surpassed Japan to become the fourth largest economy in the world, said NITI Aayog’s Chief Executive Officer (CEO), BVR Subrahmanyam on May 25, while referring to International Monetary Fund (IMF) data. Based on current market prices, India’s GDP is valued at $4.19 trillion

“We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak, and this is not my data. This is IMF data. India today is larger than Japan,” BVR Subrahmanyam told the media outlets at the 10th NITI Aayog Governing Council Meeting on Sunday.

While predicting that India may take over Germany and soon become the third largest economy in the world, he said, “If we stick to, you know, what is being planned, what is being thought through, it's a matter of another 2, 2.5 to 3 years; we would become the third largest economy.”

Here’s a list of top 10 economies in the world (current prices)

1. United States: $30.51 trillion

2. China: $19.23 trillion

3. Germany: $4.74 trillion

4. India: $4.187 trillion

5. Japan: $4.186 trillion

6. United Kingdom: $3.84 trillion

7. France: $3.21 trillion

8. Italy: $2.42 trillion

9. Canada: at $2.23 trillion

10. Brazil: $2.13 trillion

Outlook

As per the predictions made in World Economic Outlook (WEO) report released on 22 April 2025 by International Monetary Fund (IMF), India was set to leapfrog Japan to become the fourth-largest economy in the world in 2025.

Nominal GDP is expected to surge to $4,287.017 billion in the fiscal year 2025-26, as compared to Japan’s nominal GDP at $4,186.431 billion, the report stated.

The WEO is set to grow at a “more stable” rate of 6.2% in 2025, while soaring 6.3% in 2026.

“For India, the growth outlook is relatively more stable at 6.2 per cent in 2025, supported by private consumption, particularly in rural areas, but this rate is 0.3 percentage point lower than that in the January 2025 WEO Update on account of higher levels of trade tensions and global uncertainty,” according to the WEO report cited by Mint.

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