GDP growth at 6.5%: US tariffs to weigh down India's economic growth? Here is what ADB says

India’s economy is expected to grow 6.5% in the current financial year, the Asian Development Bank said in its latest report, revising the earlier figure downwards from 7%. ADP had predicted the GDP to reach 7% in April but downgraded it as concerns arose surrounding the sharp 50% tariffs in Indian import to the country. This reduction comes despite the 7.8% growth in the first quarter as US tariffs start to weigh down Indian exports. The ADO (Asian Development Outlook) by ADB said that while GDP grew strongly in the first quarter of FY26 boosted by consumption and government spending, additional US tariffs on exports will reduce growth, particularly in the second half of FY26 and in FY27. Net exports are expected to subtract more from growth than previously predicted in April.