India, May 27 -- Prime Minister Narendra Modi on Tuesday confirmed that India has indeed become the world's fourth-largest economy, surpassing Japan. His remark came days after NITI Aayog CEO BVR Subrahmanyam announced that India's economy had reached the $4 trillion mark.

"On 26th May 2014, I took the oath as the Prime Minister for the first time. At that time, India's economy was in the 11th position...Today, India has become the world's fourth-largest economy. It is a matter of pride for all of us that we have now surpassed Japan...I still remember the excitement across the country when we moved from sixth to fifth place, especially among the youth. The reason was that India had overtaken the United Kingdom, the very nation that had r...