India on Path to Becoming World's Fourth Largest Economy by 2025

India is projected to become the fourth largest economy by 2025, surpassing Japan with a GDP of USD 4.19 trillion, according to IMF data. NITI Aayog's Arvind Virmani expresses confidence in this forecast, despite recent claims by CEO BVR Subrahmanyam that India has already reached this economic milestone.

In a significant forecast, NITI Aayog member Arvind Virmani has expressed confidence that India will emerge as the world's fourth largest economy by the end of 2025. This assertion aligns with the International Monetary Fund (IMF) projections, despite recent claims about India's current economic standing by NITI Aayog CEO BVR Subrahmanyam.

According to the IMF's World Economic Outlook report released in April, India's GDP is expected to reach USD 4.19 trillion in 2025, surpassing Japan. Virmani emphasized the importance of utilizing USD current prices for public economic comparisons, asserting that annual GDP data is crucial for verifying such forecasts.

Despite the anticipated economic growth, the IMF projects India's economy to expand at a rate of 6.2 percent in 2025-26, slightly less than previous estimates, due to rising global trade tensions. The global economy is expected to grow by 2.8 percent in the same period.

(With inputs from agencies.)