India Surpasses Japan to Become the Fourth Largest Economy Globally: NITI Aayog Chief

India has surpassed Japan to become the world’s fourth largest economy, said BVR Subrahmanyam, CEO of NITI Aayog, on Saturday.  After the 10th Governing Council meeting of Niti Aayog, Mr. Subrahmanyam informed reporters that the overall geopolitical and economic landscape is advantageous for India.

“We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak,” he said.

Citing IMF data, mR Subrahmanyam said India today is larger than Japan.

“It is only the US, China and Germany which are larger than India, and 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,” Mr Subrahmanyam.

Responding to a question on US President Donald Trump’s recent statement that he expects Apple iPhones that will be sold in the US to be manufactured in America and not India, or anyplace else, Mr Subrahmanyam said, “What the tariff will be, is uncertain. Given the dynamics, we will be cheap place to manufacture.”

He also said that a second round of asset monetisation pipeline is being prepared and it will be announced in August.