India has officially overtaken Japan to become the world’s fourth largest economy. NITI Aayog CEO BVR Subramanian gave this information in a press conference on May 24. India has achieved this achievement due to its economic policy. Citing data from the International Monetary Fund (IMF), Subramanian said, “We are the fourth largest economy. We are a $4 trillion economy. Today, India’s economy is bigger than Japan’s. Now only America, China and Germany are ahead of India.” The CEO of NITI Aayog also said that if we stick to our plans and ideas, we will become the third largest economy in 2.5-3 years. GDP is used to track the health of an economy. It measures the value of all goods and services produced in a country over a given period. This includes foreign companies that produce in the country.
