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Indian Economy: According to Dr. Arvind Virmani, a member of the NITI Aayog, India will become the third largest economy in the world by 2025, beating Japan and by 2027-28 by 2027-28. To achieve this goal, improvement in global trade agreements and tariff policy will be important.
Indian Economy: India’s economy is fast on the path of development and soon it can become the third largest economy in the world. NITI Aayog member Dr. Arvind Virmani told in an interview that India will surpass Germany by 2027 or 2028 and will reach third place. Not only this, he also told through a long term plan how India can come in a position to equal China by 2050.
India will become the third largest economy in the world
According to Dr. Arvind Virmani, a member of the NITI Aayog, India will become the third largest economy in the world, overtaking Germany by 2027 or 2028. Currently, India is in fifth place, but looking at its economic speed, it can be said that the day is not far when India will become the third largest economy in the world. If India continues to grow at the rate of 6–6.5% for the next 25 years, then by 2050, China can reach equal.
India will leave Japan behind by 2025
Dr. Virmani said that by the end of 2025, India will leave Japan behind and become the fourth largest economy. An IMF report states that India’s GDP can reach $ 4.19 trillion by 2025, which will overtake Japan.
China’s equal strategy by 2050
Dr. Virmani also said that if India’s economy progresses at a rate of 6 to 6.5 percent annually, it will be equal to China’s economy by 2050. He emphasized some important steps for this, such as removing tariffs related to tariffs and making global trade easier.
Indo-US trade agreement is very important
A member of the NITI Aayog described the possible trade agreement between India and the US as extremely important for India’s economic expansion. He said that this will boost foreign investment and will further strengthen India’s global status.
India is now the fourth largest economy- Subrahmanyam
NITI Aayog CEO BVR Subrahmanyam recently claimed that India had already left behind Japan and has now become the fourth largest economy in the world. He said, “When I am speaking, we are an economy of $ 4 trillion.”
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