India, May 25 -- India has overtaken Japan to become the world's fourth-largest economy, NITI Aayog CEO BVR Subrahmanyam announced on Saturday.

Speaking to the media after the 10th Governing Council meeting of NITI Aayog, Subrahmanyam said the country's economy has reached the $4 trillion mark.

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"We are now the fourth-largest economy. Only the US, China, and Germany are ahead of us," he said, citing data from the International Monetary Fund (IMF).

He added that if current plans stay on track, India could become the world's third-largest economy within the next two-and-a-half to three years.

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