• India’s FY26 GDP forecast cut to 6.5% (earlier 6.7%) due to U.S. tariffs on ~60% exports.

• FY27 projection also revised down to 6.5% (from 6.8%).

• Developing Asia outlook trimmed: 2025 → 4.8% (from 4.9%), 2026 → 4.5% (from 4.7%).

• India saw strong Q1 FY26 growth, but risks remain for export-led sectors.

• Rising trade barriers like U.S. tariffs flagged as key growth challenge.