India has surpassed Japan to become the world's fourth-largest economy with a GDP of approximately $4.18 trillion, according to a government release. Projections indicate India could overtake Germany to become the third-largest economy by 2030, with a GDP potentially reaching $7.3 trillion. The country is also noted as the fastest-growing major economy globally, driven by robust domestic demand and private consumption, demonstrating resilience amidst global trade uncertainties. International agencies largely echo these optimistic growth forecasts.