INTERVIEW: India to Replace Japan as 4th-Biggest Economy in '27

New Delhi, Oct. 6 (Jiji Press)--India is expected to overtake Japan to become the fourth-largest economy in nominal terms by the end of next March, V. Anantha Nageswaran, chief economic adviser to the Indian government, has said.

In a recent interview with Jiji Press, Nageswaran predicted that India will rank behind the United States, China and Germany in global nominal gross domestic product rankings by the end of March 2027 but will not overtake Japan within this year as initially expected.

"You can't say that there are too many weak spots" in the Indian economy, he said, noting that it grew 7.8 pct year on year in April-June. He argued that India has done better on job creation and income growth than Western countries.

At the same time, he acknowledged that youth unemployment, particularly among women in urban areas, remains a problem, and that progress in addressing it has been slow.

He said that New Delhi must focus more on agriculture as an industry that will drive future economic growth.

[Copyright The Jiji Press, Ltd.]