Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025.
The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan.
It overtook the UK in 2022.
Just a decade ago, Indian GDP was the eleventh largest in the world. Currently, India's GDP is estimated to be around $3.7 trillion.
Some highlights of India's journey to the top 5 economies of the world in 2024 from fragile 5 in 2013, according to Kant, among others, record GST collection, over 8 percent GDP growth in the past three quarters, trading in Indian currency Rupee with various countries (to be precise 27), inflation at manageable levels.
The term fragile 5 was coined by a Morgan Stanley analyst in 2013 and refers to a set of five emerging countries, including India, whose economy was not doing well back then.
The other four countries were Brazil, Indonesia, South Africa, and Turkey. -- ANI