New Delhi, Sept. 30 -- Asian Development Bank (ADB) has pared back its growth outlook for India, citing the drag from steep US tariffs imposed in August, the multilateral development agency said in a statement on Tuesday.

The Manila-headquartered organization now expects the Indian economy to expand 6.5% in both fiscal year 2026 (FY26) and FY27, down from its April forecasts of 6.7% and 6.8%, respectively.

"While the FY25 forecast remains unchanged from ADB's July 2025 projection, the FY26 estimate has been revised downward from 6.7% to 6.5%. This adjustment reflects anticipated headwinds from newly imposed US tariffs on Indian exports," ADB said. "However, resilient domestic consumption and strong performance in service exports are exp...