World’s Top Economies: India climbs to 4th, surpassing Japan

World’s Top Economies: India has overtaken Japan to become the world’s fourth-largest economy and is now poised to surpass Germany to claim the third position within the next 2.5 to 3 years, according to NITI Aayog CEO B.V.R. Subrahmanyam.

“We are the fourth-largest economy as I speak. We are a USD 4 trillion economy, and this is not my data—it’s IMF data. India today is larger than Japan,” said Subrahmanyam during a press conference following the 10th NITI Aayog Governing Council Meeting.

“Only the United States, China, and Germany are currently ahead of us. If we stick to what is being planned and thought through, it’s just a matter of another 2 to 3 years before we become the third-largest economy,” he added.

The International Monetary Fund (IMF), in its World Economic Outlook report released earlier this month, stated that India is set to become the fourth-largest economy in 2025. India’s nominal GDP is projected to rise to $4,187.017 billion, surpassing Japan’s estimated $4,186.431 billion.

India continues to be the world’s fastest-growing major economy and is the only country expected to record over 6% growth over the next two years.

Mahindra Group chairman Anand Mahindra recently took to social media platform X to acknowledge India’s achievement. “When I was in business school, the idea of India overtaking Japan in GDP felt like a distant, almost audacious dream. Today, that milestone is no longer theoretical — we’ve become the world’s fourth largest economy. It’s no small achievement. Japan has long been an economic colossus, with legendary productivity and resilience. That we’ve caught up is a testament to the ambition and ingenuity of millions of Indians — across sectors, generations, and geographies. But as we celebrate, we must stay dissatisfied.Because India’s next leap must be in per capita GDP, not just overtaking Germany…For us to keep Rising, India needs sustained economic reforms — in governance, infrastructure, manufacturing, education, and capital access,” he wrote.

List of Top 10 Economies (As per GDP in US$)

United States: GDP current prices at $30.51 trillion.
China: GDP current prices at $19.23 trillion.
Germany: GDP current prices at $4.74 trillion.
India: GDP current prices at $4.19 trillion.
Japan: GDP current prices at $4.19 trillion.
United Kingdom: GDP current prices at $3.84 trillion.
France: GDP current prices at $3.21 trillion.
Italy: GDP current prices at $2.42 trillion.
Canada: GDP current prices at $2.23 trillion.
Brazil: GDP current prices at $2.13 trillion.

According to the IMF data cited above, all the current GDP numbers are based on the 2025 data release.

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