India Surpasses Japan: Discover How It Became the World’s 4th Largest Economy, According to NITI Aayog

New Delhi: India has officially become the fourth-largest economy in the world, surpassing Japan. This was announced by BVR Subrahmanyam, CEO of NITI Aayog, during the recent Governing Council Meeting in New Delhi. According to the International Monetary Fund (IMF), India now boasts a Gross Domestic Product (GDP) of $4 trillion, following only the United States, China, and Germany.

The meeting, chaired by Prime Minister Narendra Modi, marked not only a celebration of India’s economic growth but also a strategic discussion on sustainable development for the country’s 100th independence anniversary in 2047.

Building a Partnership for Growth

India’s journey to this milestone is purposeful. The 10th Governing Council meeting coincided with NITI Aayog’s 10-year anniversary. This occasion was an opportunity to reflect on progress and set a vision for shared prosperity. Subrahmanyam noted the important transformation of NITI Aayog into a data-driven governance model, emphasizing collaboration among states.

“In the last decade, states have shifted from mere implementers to strategic partners,” he said. This shift creates a strong foundation for the vision of a developed India by 2047.

The strong attendance at the meeting, with representatives from 31 of India’s 36 states and Union Territories, highlighted a collective commitment to a national agenda, exemplifying cooperative federalism.

Prime Minister Modi’s Vision for a Collective Future

In his speech, Modi stressed that developing India requires the active involvement of all states. “When every state grows, India thrives,” he said. He introduced eight pillars for transformation, focusing on tech-driven initiatives, urban innovation, and empowering women, reflecting a holistic approach to progress.

Modi urged for careful planning for future cities. Growth and sustainability should guide urban development. He also emphasized creating a supportive environment for women in the workforce through effective policies.

Decentralized Planning for a Developed India

The concept of “Viksit Bharat@2047” involves a decentralized planning approach. Subrahmanyam revealed that 17 states have created their Vision 2047 documents, with Gujarat and Andhra Pradesh among the frontrunners. Gujarat aims for a $3.5 trillion economy, while Andhra Pradesh targets $2.5 trillion. These ambitious goals align with each state’s unique strengths in sectors like manufacturing and green energy.

“This is the decade of states,” Subrahmanyam declared. Growth needs to happen locally, not just from Delhi. It should resonate across every city and town.

Suman Bery, Vice Chairman of NITI Aayog, remarked, “We are mobilizing society and politics to tap into every Indian’s potential.”

A Favorable Economic Landscape

India’s economic ascent isn’t isolated. Subrahmanyam noted that global dynamics favor India as a stable and cost-effective manufacturing hub. Reforms like Goods and Services Tax (GST) and digital infrastructure have strengthened India’s economic foundations.

This growth is expected to advance with upcoming phases of the asset monetization pipeline, slated for August 2025, aimed at unlocking the value of public assets to fund key infrastructure projects.

Preparedness for National Security

Discussions were also framed by a recent tragedy in Jammu & Kashmir, where a terrorist attack claimed 26 lives. Modi called for a proactive approach to civil preparedness in light of such incidents, emphasizing the need for robust disaster response systems and effective healthcare infrastructure.

Embracing Technology and Green Initiatives

India’s youthful demographic presents a valuable opportunity, but Modi cautioned that skilling and job opportunities must keep pace. States were encouraged to promote entrepreneurship and invest in green economies.

The integration of technology across sectors is vital. Modi declared, “This is the century of technology; we must embrace it in everything we do.”

Bipartisan Cooperation for National Goals

Despite some absent opposition states, prominent leaders engaged in constructive discussions with the Prime Minister, signaling a positive shift in political relations. Many saw this as a refreshing sign of unity on crucial issues like economic development and security.

Suman Bery captured the essence of the meeting: “It was a reaffirmation that despite political differences, the vision for a developed India unites us all.”

Key Takeaways from PM Modi

• Teamwork is essential for development across the nation.
• Every state’s progress contributes to national growth.
• Each state should develop a world-class tourist destination.
• Focus on sustainable and innovative urban planning.
• Support for women in the workforce is critical.
• Technology should enhance all sectors.
• Preparedness for health crises is a priority.
• Civil preparedness is essential for long-term safety.

By fostering collaboration and innovation, India is poised to make significant strides toward its ambitious goals for the future.

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NITI AAYOG, INDIA OVERTAKES JAPAN, WORLD 4TH LARGEST ECONOMY, NITI AAYOG CEO BVR SUBRAHMANYAM, VIKSIT BHARAT 2047, INDIA OVERTAKES JAPAN TO BECOME WORLD'S 4TH LARGEST ECONOMY: NITI AAYOG