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India overtaking Japan to become the fourth largest economy soon is not something to be complacent about, World Economic Forum’s (WEF) former MD Claude Smadja has said. Giving a reality check, Claude Smadja has pointed to India’s abysmal per capita GDP numbers, comparing them to how poorly they fare to Japan’s per capita income.India’s GDP ($4,187 billion) is set to surpass that of Japan ($4,186 billion) by the end of this year (FY26), according to the IMF’s latest World Economic Outlook report. However, the IMF statistics from April 2025 also reveal that India’s GDP per capita stands at $2,878.4, which is roughly 8.5% of Japan’s $33,955.7. This means that people in Japan earn approximately 11.8 times more than their Indian counterparts!“Yes, it (economy size) is a good indicator because it gives a notion of the economic weight of the country on the global balance. No, it is not a good indicator because what counts is the per capita GDP. In terms of per capita GDP, India is far below Japan. So whether India has achieved this fourth position in the global economic balance… is a good indicator of progress being made, but it is not in any way any reason for complacency,” Smadja said in his conversation with PTI.In fact, Smadja emphasised that India’s enhanced economic position should drive faster reforms, ensuring improved living conditions across all societal segments, beyond just the expanding middle class in both urban and rural regions.The youthful demographic of India remains a significant advantage, but Smadja highlighted the critical requirement to enhance skill development and retraining across the workforce.For India to achieve its goal of becoming a $ 7-trillion economy by 2030, the country needs to strengthen its industrial sector, according to Smadja.He pointed out that manufacturing’s contribution to India’s GDP is approximately half of China’s level. He considers this proportion inadequate considering India’s geographical size, population, and economic capabilities.Without substantial growth in manufacturing activities, India’s aspirations to reach the $7-trillion economic milestone remain challenging, according to Smadja.Smadja, who heads Smadja and Smadja Strategic Advisory, spoke of India’s crucial position in the global technology landscape. He noted the country’s exceptional advantage in big data management, which he believes should be safeguarded and utilised effectively to elevate India’s status in worldwide technology and innovation.Also Read | Extreme poverty in India sees sharp decline! Number dips from 344.47 million to 75.24 million; poverty rate down to 5.3%, says World BankHe emphasised that India ranks amongst the primary data producers globally, alongside China, Europe, and the US.According to him, India’s unique circumstances stem from its widespread internet connectivity, extensive mobile phone usage, and the national “Aadhaar” identification system, resulting in substantial data generation that encompasses all aspects of everyday living.In India, safeguarding this vital strategic resource is crucial as it serves as the foundation for advancing technological innovation, fostering breakthroughs in disruptive technologies, and establishing itself amongst the world’s leading big data powerhouses.Besides China, India stands alone in possessing such a substantial big data resource, according to Smadja.
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