The International Monetary Fund (IMF) has released its April 2026 World Economic Outlook, showing that India has dropped from the top five to sixth place among the world’s largest economies. The United States remains the largest economy with over 32.4 trillion dollars in GDP, followed by China at 20.8 trillion, Germany at 5.4 trillion, Japan at 4.4 trillion, and the United Kingdom at 4.3 trillion. India’s nominal GDP is estimated at 4.15 trillion dollars, slightly below the UK and Japan.

According to the IMF, India’s shift in ranking is mainly due to changes in currency exchange rates and the adoption of a new GDP base year. The Indian government updated its methodology using 2022–23 as the new base year, revising earlier figures downward by about 3–4 percent. The rupee’s depreciation of roughly 10 percent against the US dollar over the past year also contributed to the decline.

The IMF projects that India will regain its position by 2027, overtaking the UK and Japan, and could surpass Germany by 2031 to become the world’s third-largest economy.