Shilan Shah of KITU Macro said in a report that India's upcoming national accounts data base adjustments may indicate that the country has surpassed Japan to become the fourth largest economy in the world. Statistics India is expected to make major methodological adjustments to key economic data in February, including adjusting the GDP base to reflect changes in spending patterns and the emergence of new industries. Shah said, “In emerging economies, base adjustments usually lead to an increase in nominal GDP. “A 12% increase in India's nominal GDP would be enough to surpass Japan's,” he added. Shah added that while base adjustments would not change economic reality, higher nominal GDP would improve economic indicators such as public debt ratios.

Shilan Shah of KITU Macro said in a report that India's upcoming national accounts data base adjustments may indicate that the country has surpassed Japan to become the fourth largest economy in the world. Statistics India is expected to make major methodological adjustments to key economic data in February, including adjusting the GDP base to reflect changes in spending patterns and the emergence of new industries. Shah said, “In emerging economies, base adjustments usually lead to an increase in nominal GDP. “A 12% increase in India's nominal GDP would be enough to surpass Japan's,” he added. Shah added that while base adjustments would not change economic reality, higher nominal GDP would improve economic indicators such as public debt ratios.