New Delhi, April 19, 2025 – India is on track to surpass Germany and Japan to become the third-largest economy in the world within the next three years, and is expected to emerge as the second-largest economy globally by 2047, according to BVR Subrahmanyam, CEO of NITI Aayog.
Speaking at a recent event, Subrahmanyam emphasized India’s potential to transform into a global education hub, highlighting the nation’s democratic foundation as a key strength. He stated that India’s current economic size stands at $4.3 trillion, and is projected to reach $30 trillion by 2047.
He further explained that unlike low-income countries that grapple with basic needs, middle-income nations like India face challenges around transitioning into knowledge-driven economies. He also pointed out that India’s growing working-age population would be a significant asset as global demographics shift toward aging populations.
Subrahmanyam mentioned that countries like Germany are already recruiting thousands of healthcare professionals from India due to domestic labor shortages and declining family support systems. This demographic advantage, according to him, will be India’s greatest strength in the coming decades, as the country continues to supply a young, skilled workforce to the global economy.
India is currently the world’s fifth-largest economy and is set to become the fourth-largest by the end of 2025, further solidifying its position as an emerging economic superpower.