Jammu (Jammu and Kashmir) [India], May 25 (ANI): After India officially became the world’s fourth-largest economy, Union Minister Jitendra Singh called the achievement “very good news” for the country, crediting Prime Minister Narendra Modi’s “farsighted leadership” and the strategic use of technology for the economic progress.
“This is very good news. Thanks to Prime Minister Narendra Modi. This is the result of the farsightedness with which India has embarked on a development journey for the last 11 years… We were called fragile 5 (economy). Our economy reached the fifth position in no time, and now we are at the fourth position… The reason behind this huge achievement is that for the first time, Prime Minister Narendra Modi made the country aware of the importance of technology…,” Singh said, praising the Prime Minister’s vision.
Union Minister Singh also highlighted the significant psychological shift the milestone has triggered among the Indian public. “PM Modi took the decisions that were necessary to play India’s role in view of the current global environment… Today, a kind of confidence has awakened among the citizens that we all have to come together and bring this journey of developed India to success,” he added.
Furthermore, in Jaipur, Bharatiya Janata Party (BJP) Rajya Sabha MP Ghanshyam Tiwari echoed Singh’s sentiments and emphasised the structural reforms initiated during Modi’s tenure.
“When PM Narendra Modi assumed office, he abolished the Planning Commission and created the NITI Aayog so states can get more help… Through NITI Aayog, the states have autonomy, and everyone gets money based on their policies,” Tiwari said.
He expressed optimism about India’s continued economic growth, stating, “By the end of PM Modi’s current tenure in 2029, India will become the third largest economy in the world, as the Prime Minister has envisioned.”
Meanwhile, India has taken another stride, pipping Japan to become the fourth-largest economic powerhouse. In September 2022, India had surpassed the UK to become the fifth-largest economy.
On Friday evening, addressing a press conference of the 10th NITI Aayog Governing Council Meeting on ‘Viksit Rajya for Viksit Bharat 2047’, NITI Aayog Chief Executive Officer (CEO) BVR Subrahmanyam said that India has overtaken Japan to become the world’s fourth-largest economy.
This is a proud moment for the country and India’s position would strengthen further in the coming years, on the back of prospects of higher economic growth. Citing data from the International Monetary Fund, the CEO of India’s apex think tank stated that India’s economy has reached the USD 4 trillion mark.
“We are the fourth largest economy as I speak. We are a USD 4 trillion economy, and this is not my data; this is IMF data. India today is larger than Japan. It’s only the United States, China, and Germany which are larger, and if we stick to, you know, what is being planned, what is being thought through, it’s a matter of another 2.0-2.5 to 3 years; we would become the third largest economy,” said BVR Subrahmanyam.
According to the IMF’s April edition of the World Economic Outlook report, India’s nominal GDP for fiscal 2026 is expected to reach around USD 4.187 trillion. This is marginally more than Japan’s likely GDP, which is estimated at USD 4.186 billion. (ANI)
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