Indian economy to move up ladder due to robust policies, long-term vision: Mark Mobius
Speaking to IANS, the global investor who runs the Mobius EM Opportunities Fund for Emerging Markets (EMs), said he was not surprised at India's continuous elevation in the table of world's largest economies.
'I am not surprised that India is moving up in the world's top economies ranking. The 140-crore population, under the visionary leadership of Prime Minister Narendra Modi, is now eager to reclaim their deserved place on the global map,' Mobius said.
He further stated that the kind of GDP growth India is witnessing will help it on the road to become the third-largest economy in the world soon.
'The country is witnessing 6-7 per cent growth despite global uncertainties which shows the resilience in its economy. It will help India continue to move up the ladder,' said Mobius.
In just a few years, India has risen from being the world's 11th-largest economy to the fourth-largest. As of 2025, India trails behind the US, China and Germany in terms of total GDP.
Mobius told IANS that India has the potential to become even the second-largest economy in the world.
"India now has a substantially larger population than China. It is now estimated that China's population is actually 800 million or less, with an average age much higher than India's 1.4 billion people," he contended.
India has just surpassed Japan to become the world's fourth-largest economy and is now poised to displace Germany from the third rank in the next 2.5 to 3 years, according to NITI Aayog Chief Executive Officer (CEO) B.V.R. Subrahmanyam.
'We are the fourth-largest economy as I speak. We are a $4 trillion economy as I speak, and this is not my data. This is IMF data. India today is larger than Japan," said Subrahmanyam at a Press conference of the 10th NITI Aayog Governing Council Meeting.
The IMF had stated earlier this month in the World Economic Outlook report that India is poised to become the fourth-largest economy globally in 2025, with the country's nominal GDP rising to $4,187.017 billion to surpass Japan's GDP pegged at $4,186.431 billion.
According to the report, India continues to remain the world's fastest-growing major economy and the only country expected to clock over 6 per cent growth in the next two years.
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