India surpasses Japan to become world's 4th largest economy, says govt
New Delhi (PTI): India has surpassed Japan to become the world's fourth-largest economy with a size of USD 4.18 trillion, and is poised to overtake Germany to become the third-largest by 2030, the government has said.
With continuing good growth numbers, India is also the world's fastest-growing major economy.
India's real GDP grew 8.2 per cent in the second quarter of 2025-26, up from 7.8 per cent in the first quarter and 7.4 per cent in the fourth quarter of the last fiscal.
"With GDP valued at USD 4.18 trillion, India has surpassed Japan to become the world's fourth-largest economy, and is poised to displace Germany from the third rank in the next 2.5 to 3 years with a projected GDP of USD 7.3 trillion by 2030," according to a government release providing a snapshot of reforms in 2025.
The US is the world's largest economy, and China occupies the second spot.
The growth momentum further surprised on the upside, with GDP expanding to a six-quarter high in Q2 of 2025-26, reflecting India's resilience amid persistent global trade uncertainties, it said.
Domestic drivers, led by robust private consumption, played a central role in supporting this expansion.
The release further said international agencies have echoed this optimism and cited projections made by various entities.
The World Bank has projected a 6.5 per cent growth in 2026; Moody's expects India to remain the fastest-growing G20 economy with a growth of 6.4 per cent in 2026 and 6.5 per cent in 2027.
The IMF has raised its projections to 6.6 per cent for 2025 and 6.2 per cent for 2026; the OECD forecasts 6.7 per cent growth in 2025 and 6.2 per cent in 2026.
Also, S&P anticipates a growth of 6.5 per cent in the current fiscal and 6.7 per cent in the next; the Asian Development Bank has lifted its 2025 forecast to 7.2 per cent; and Fitch has raised its FY26 projection to 7.4 per cent on stronger consumer demand.
"India is among the world's fastest-growing major economies and is well-positioned to sustain this momentum. With the ambition of attaining high middle-income status by 2047- the centenary year of its independence, the country is building on strong foundations of economic growth, structural reforms, and social progress," the government said.
The release also highlighted that inflation remains below the lower tolerance threshold, unemployment is on a declining trajectory, and export performance continues to improve.
Furthermore, financial conditions have stayed benign, with strong credit flows to the commercial sector, while demand conditions remain firm, supported by a further strengthening of urban consumption.
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First-ever life-size Vivekananda statue in US unveiled in Seattle
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New York (PTI): The first-ever life-size statue of Swami Vivekananda in the US was unveiled in Seattle, honouring the renowned Indian philosopher and spiritual leader.
The life-size bronze statue, installed at the busy Westlake Square in downtown Seattle, is the first such installation hosted by a city government anywhere in the US, officials said.
Sculpted by Indian artist Naresh Kumar Kumawat, it was jointly unveiled on Saturday by Seattle Mayor Katie Wilson and Consul General of India in Seattle Prakash Gupta.
"From Chicago 1893 to Seattle 2026! Seattle's skyline has a new Indian icon: Swami Vivekananda! City of Seattle becomes the first city government to host the Swami Vivekananda Monument in the heart of downtown Seattle," the Consulate General of India in Seattle said in a social media post.
Addressing the event, Wilson said the monument reflects Seattle's inclusive spirit and strengthens cultural ties between India and the diverse metropolitan tech hub in the US Pacific Northwest.
The statue has been gifted by the Indian Council of Cultural Relations (ICCR) to the City of Seattle in recognition of its "in recognition of the city’s rich multicultural character and spirit of inclusivity", the Indian mission in Seattle said in a statement.
The unveiling of the statue was held on the occasion of the celebration of ICCR Day and is part of India's broader cultural diplomacy initiatives aimed at strengthening people-to-people ties between India and the US Pacific Northwest, the Consulate said.
Located at the bustling Westlake Square, which sees over 400,000 visitors daily, the monument stands near prominent landmarks including the Amazon headquarters ‘Spheres’, the Seattle Convention Centre and the Seattle Centre Monorail.
The unveiling ceremony was attended by several local leaders, including mayors from cities in the Greater Seattle area, community representatives and members of the Indian-American diaspora.
Swami Vivekananda had delivered his historic address at the World’s Parliament of Religions in Chicago in 1893, introducing Hindu philosophy to a global audience.
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