New Delhi, May 24: India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO B V R Subrahmanyam said on Saturday. Briefing reporters after the 10th Governing Council meeting of Niti Aayog, Subrahmanyam said overall geopolitical and economic environment is favourable to 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, Subrahmanyam said India today is larger than Japan.

"It is only US, China, 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," Subrahmanyam. PM Narendra Modi Says India Must Increase Speed of Development, Work on Future-Ready Cities During 10th Governing Council Meeting of NITI Aayog.

India Becomes World’s Fourth Largest Economy

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, Subrahmanyam said, "What the tariff will be, is uncertain. Given the dynamics, we will be cheap place to manufacture." India To Grow by 6.5% in 2025, Maintain Status As Fastest-Growing Major Economy: UN Report.

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

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)