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Speaking after the 10th Governing Council meeting of NITI Aayog, Subrahmanyam highlighted the country’s current GDP at $4 trillion and emphasized the favorable geopolitical and economic environment supporting India’s growth.
Referencing data from the International Monetary Fund (IMF), he confirmed that India’s economy now surpasses Japan’s in size. “Only the US, China, and Germany are ahead of us. If we continue on our current path, we could be the third largest economy in 2.5 to 3 years,” he stated.
In response to a recent remark from former US President Donald Trump urging Apple to manufacture iPhones within the US instead of India or elsewhere, Subrahmanyam commented on India's manufacturing competitiveness, noting that India remains a cost-effective production hub.
He also mentioned that a second phase of asset monetization is being planned and will be announced in August.
The IMF’s World Economic Outlook report, released in April, projects India’s nominal GDP to reach $4.19 trillion in 2025, slightly ahead of Japan. Additionally, India’s per capita income has doubled over the past decade, from $1,438 in 2013–14 to $2,880 in 2025.
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