India Overtakes Japan as World’s 4th Largest Economy
Why in the news
India moved into fourth place among the world’s economies, confirming its standing as the fastest-growing major economy.
Key facts
- Also ahead of the United Kingdom.
- Over 8% real GDP growth in recent quarters.
Ranking snapshot
| Rank | Country |
|---|---|
| 1 | United States |
| 2 | China |
| 3 | Germany |
| 4 | India |
| 5 | Japan |
Growth drivers
- Private consumption backed by higher incomes.
- Public capital spending on infrastructure.
- Services strength in IT, finance and business services.
- Manufacturing under Make in India and PLI schemes.
Exam angle
- Rank 4; passed Japan; next target Germany.