- 14 Mar 2002
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India has edged ahead of Japan to rank as the world's fourth-largest economy, based on calculations in the Indian government's latest year-end economic review. The report points to steady, high growth that has picked up more quickly than policymakers had anticipated.
However, average incomes in India remain much lower than in advanced countries: World Bank data put India's GDP per person at $2,694 in 2024, compared with $32,487 in Japan and $56,103 in Germany.
Population trends contrast as well. India became the world's most populous country in 2023, overtaking China, and government figures show that more than 25% of its roughly 1.4 billion people are aged 10-26. While providing enough well-paid jobs for this growing generation of young graduates will be a significant challenge, this is a key note about the country's longer-term prospects.
However, average incomes in India remain much lower than in advanced countries: World Bank data put India's GDP per person at $2,694 in 2024, compared with $32,487 in Japan and $56,103 in Germany.
Population trends contrast as well. India became the world's most populous country in 2023, overtaking China, and government figures show that more than 25% of its roughly 1.4 billion people are aged 10-26. While providing enough well-paid jobs for this growing generation of young graduates will be a significant challenge, this is a key note about the country's longer-term prospects.
India overtakes Japan as 4th-largest economy, report says – DW – 12/30/2025
India has pushed ahead of Japan as the world's fourth-biggest economy after sustained high growth, New Delhi says. Economic pace has apparently picked up more quickly than expected and India may soon claim third place.