NITI Aayog CEO: Indian economy will become bigger than Germany and Japan in three years, said NITI Aayog CEO

New Delhi| NITI Aayog Chief Executive Officer BVR Subramaniam said that the Indian economy will become bigger than Germany and Japan in the next three years. The CEO of NITI Aayog said that our economy could become the second largest economy in the world by 2047.

Addressing an event in New Delhi, Subramaniam said that India can become a center of education for the world, because keeping everything else aside, the biggest advantage of our country is its democracy. He said, “At present the Indian economy is the fifth largest economy in the world”. By the end of next year we will be the fourth largest economy. In the year that follows we will be the third largest economy”

According to the latest IMF data, the size of India’s economy is currently US$4.3 trillion. “We will be bigger than Germany and Japan in three years”, he said. By 2047 we could be the second largest economy (US$30 trillion)”

Subramaniam called on Indian companies, including law firms and accounting firms, to aspire to become world leaders. The CEO of NITI Aayog said that the problems of middle income countries are very different from the problems of low income countries.

“It is not related to feeding the poor or dressing the naked”, he said. It has to do with how you become a knowledge based economy” Subramaniam said that the world has never seen a situation where the population will decrease. According to him, Japan is taking 15,000 Indian nurses, Germany is taking 20,000 health workers, because they don’t have people, and family arrangements there have collapsed. “India will be a stable supplier of working-aged people around the world”, he said…It’ll be our greatest strength.”