India vs Japan
Side-by-side economic and demographic comparison · 2026 data · Source: IMF & World Bank
India and Japan represent contrasting economic narratives: India's rapid growth and demographic dividend versus Japan's technological maturity and demographic decline. India's economy has surpassed Japan's in PPP terms and is closing the gap in nominal terms. Japan is one of India's largest foreign investors, with Japanese companies heavily invested in India's automotive (Suzuki, Honda), electronics, and infrastructure sectors. The two countries have deepened strategic and economic ties, with Japan providing critical development financing for India's bullet train and metro projects.
India has a GDP of $4.15T compared to Japan's $4.38T, making it 1.1x smaller. India's population is 1.46B vs Japan's 123.4M. Across 12 key indicators, both countries are evenly matched in categories. All data sourced from the IMF World Economic Outlook and World Bank World Development Indicators.
| Indicator |  India |  Japan |
|---|---|---|
| GDP (USD) | $4.15T | $4.38T✓ |
| GDP per Capita | $2,813 | $35,703✓ |
| GDP Growth (%) | 6.5%✓ | 0.7% |
| GDP per Capita (PPP) | $12,801 | $59,207✓ |
| Population | 1.46B✓ | 123.4M |
| Life Expectancy | 72.2 years | 84.0 years✓ |
| Inflation (%) | 4.7% | 2.2%✓ |
| Unemployment (%) | 4.9% | 2.5%✓ |
| Govt Debt (% GDP) | 83.4%✓ | 204.4% |
| Fertility Rate | 2✓ | 1.1 |
| Gini Index | 25.5✓ | 32.3 |
| CO₂ per Capita (t) | 2.2✓ | 7.8 |
Summary
India has a GDP of $4.15T compared to Japan's $4.38T, making the latter economy 1.1x larger. In terms of population, India has 1.46B people while Japan has 123.4M. Across the 12 indicators compared, India leads in 6 and Japan leads in 6.
Why sources report different numbers
The IMF, World Bank and United Nations each publish these series on their own release schedule. Where their figures differ, the reason is usually visible in the reference year rather than in the methodology.
| Source | India | Japan |
|---|---|---|
| IMF | $4.15T2026 | $4.38T2026 |
| World Bank | $3.96T2025 | $4.44T2025 |
| United Nations | $3.95T2024 | $4.03T2024 |
These are not the same reference year. IMF publishes 2026 and United Nations publishes 2024 — each is the latest that publisher has released, on its own schedule. A figure for a year still in progress is a projection rather than an outturn. India spans about 5% across 2 years; Japan spans about 10% across 1 year.
| Source | India | Japan |
|---|---|---|
| IMF | $2,8132026 | $35,7032026 |
| World Bank | $2,7022025 | $35,9512025 |
| United Nations | $2,7242024 | $32,5342024 |
These are not the same reference year. IMF publishes 2026 and United Nations publishes 2024 — each is the latest that publisher has released, on its own schedule. A figure for a year still in progress is a projection rather than an outturn. India spans about 4% across 1 year; Japan spans about 11% across 1 year.
Figures are reproduced as published by each source, converted to a common unit, with each publisher's own reference year shown. Differences are described, not adjudicated — no source is presented as more correct than another.