Economic Advisory Council to the Prime Minister (EAC-PM) member Shamika Ravi on Tuesday said India is the fourth largest economy in the world, notwithstanding the fact that a large informal component of the country’s GDP is not measured.
Last month, the International Monetary Fund (IMF), in its World Economic Outlook (WEO) report released in April, had said that India is expected to be the fourth largest economy in the world with a GDP of $4.19 trillion in 2025, ahead of Japan. “Indian economy is the fourth largest in the world – despite a very significant informal component that is not measured in the GDP,” Ravi said in a social media post on X.
Besides, Niti Aayog member Arvind Virmani on May 26 also had said that India is set to become the fourth largest economy in the world by the end of 2025, an assertion which came days after NITI Aayog CEO BVR Subrahmanyam claimed India has already overtaken Japan to reach that spot.
Citing IMF data, Subrahmanyam, last month on May 30, had said that the size of the Indian economy today is larger than Japan’s. “We are the fourth largest economy as I speak. We are a $4 trillion economy as I speak,” the Niti Aayog CEO had said.
