India Overtakes Japan Becomes Fourth-Largest Economy

India has experienced a remarkable economic transformation over the past decade, emerging as the world’s fourth-largest economy by surpassing Japan, with a GDP around USD 4.19 trillion. This growth has been driven by significant reforms such as the Goods and Services Tax, demonetisation, the Insolvency and Bankruptcy Code, and infrastructure initiatives like Bharatmala and Sagarmala, alongside programs promoting manufacturing and digital innovation. Prime Minister Narendra Modi has reiterated the ambition to make India a fully developed country by 2047, emphasizing economic self-reliance through strategies like One District, One Product and encouraging citizens to favor locally made products. India’s rise also attracts major global manufacturers like Apple, Tesla, and Intel, highlighting a shift from traditional export-led growth to a model combining domestic consumption with export potential, leveraging digital-age technologies. Experts including NITI Aayog's Arvind Virmani and former RBI Governor Raghuram Rajan underline the need for proactive policies to sustain growth amid global uncertainties. Collectively, these developments position India to continue gaining global economic stature while fostering inclusive and innovative growth.