Tariffs are rising sharply in 2025, with the US rates jumping to 13.3%—the highest since 1939—fueling global uncertainty and triggering a projected $2 trillion hit to global GDP by 2027.

India’s economy expanded by an estimated 6.5% in 2024–25, the slowest in four years. The Reserve Bank of India has maintained its projection at 6.5% for the current fiscal, while the finance ministry sees growth between 6.

The U.S.-based International Monetary Fund says global economic growth will be better than expected despite a slowdown in the U.S. economy over fluctuating tariffs imposed by President Donald Trump.