India 4th Largest Economy; AiMeD Sees Medical Device Growth
NITI Aayog CEO BVR Subrahmanyam confirmed this milestone last week, marking a significant shift in global economic rankings.
India has overtaken Japan to become the world’s fourth-largest economy, reaching a Gross Domestic Product (GDP) of $4 trillion, according to the latest announcement by NITI Aayog.
Only the United States, China, and Germany have larger economies. NITI Aayog CEO BVR Subrahmanyam confirmed this milestone last week, marking a significant shift in global economic rankings.
Medical Device Industry Set to Benefit from Economic Rise
The Association of Indian Medical Device Industry (AiMeD) sees this economic progress as a critical opportunity for India’s manufacturing sectors, especially medical devices. Rajiv Nath, AiMeD Forum Coordinator and managing director of Hindustan Syringes & Medical Devices Ltd (HMD), said, “Japan has historically been a symbol of industrial excellence and discipline, and to surpass such a formidable economy signals India's growing economic maturity, expanding influence, and increasing role in shaping global narratives. This isn’t just about the numbers — it’s about momentum, demographic strength, and the vast untapped potential of India’s young and dynamic population.”
Nath highlighted the need to translate economic growth into wider development, stating, “We must ensure that this economic rise translates into meaningful development at the grassroots level, across rural and urban India alike.”
He also pointed out the specific advantages for medical device manufacturing, adding, “A growing economy allows us to scale up R&D, invest in new technologies, and become globally competitive.” He emphasized that India’s improved economic status will encourage investor confidence and foster global partnerships. “The recognition of India as a top-tier economy will boost investor confidence, drive global partnerships, and open doors for Indian manufacturers to lead not only in volume but in innovation and quality.”
AiMeD, representing over 500 medical device manufacturers, continues advocating for stronger indigenous manufacturing and regulatory clarity to reduce import dependence and boost self-reliance.
