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The UN has lowered India's 2026 GDP growth forecast to 6.4% from 6.6%, citing global uncertainties and the West Asia crisis. Despite this, India remains one of the fastest-growing major economies. The crisis is impacting growth and inflation, complicating monetary policy. The report highlights India's robust growth driven by consumer demand and public investment, although higher energy import costs pose challenges. Global GDP growth is also projected to be lower than pre-pandemic levels.

- The United Nations has revised India's economic growth forecast for 2026 to 6.4% from 6.6%, citing global uncertainties and impacts from the West Asia crisis.  
- Despite this revision, India remains among the fastest-growing major economies, driven by consumer demand and strong service exports, though it faces challenges from higher energy costs and global financial tightening.  
- The report indicates that global GDP growth is projected at 2.5% for 2026, reflecting ongoing economic pressures and the effects of rising import costs on exports.

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ISHRS MSCI India

UN cuts India's 2026 GDP forecast to 6.4% citing global uncertainties

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Indian equity indices, Sensex and Nifty 50, continued to decline on Monday, influenced by weak global cues and foreign fund outflows. The Sensex fell 822 points to 74,415, while Nifty dropped 256 points to 23,387. Key support levels for Nifty are at 23,200-23,000, with resistance at 23,500-23,600. Analysts suggest a cautious outlook, with potential for further downside if key support levels are breached.

First Trust India Nifty 50 Equal Weight

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ISHARES INDIA

Sensex, Nifty technical outlook: Analysts share key levels to watch

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India has raised its export duty on petrol while cutting the duties on diesel and aviation fuel, as announced by the government. This change comes shortly after the country increased retail fuel prices for the first time since the onset of the Iran war.

CAM MSCIINDIA

India raises export duty on petrol, cuts those on diesel and aviation fuel

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India is implementing austerity measures, including gold import restrictions, a sugar export ban, and increased fuel prices, to strengthen its economy amid the Iran conflict. These steps aim to conserve foreign reserves, stabilize domestic prices, and manage fiscal deficits. The government is also promoting work-from-home policies to reduce operational costs and energy consumption, reflecting a proactive approach to economic challenges.

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GLOBAL X Gold Explorers

India Implements Austerity Measures Amid Economic Challenges

The Indian rupee fell 39 paise to an all-time low of 95.23 against the US dollar, influenced by ongoing Middle East tensions and high oil prices. Forex traders noted that Brent crude oil is near USD 110 per barrel, impacting oil-importing economies like India. Analysts predict continued pressure on the rupee due to persistent dollar demand, with expectations of it reaching 95.35 to 95.70 levels. Meanwhile, the domestic equity market saw gains, with Sensex rising 355.90 points and Nifty climbing 121.75 points. Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday.

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Nippon Life Insurance Co.

Rupee falls 39 paise to close at all-time low of 95.23 against US dollar

The Indian Rupee has erased all monthly gains due to the ongoing US-Iran stalemate, with the currency remaining under pressure as the situation in the Strait of Hormuz remains unresolved. The US dollar is facing renewed pressure amid expectations of a diplomatic resolution, while the upcoming FOMC policy decision could influence market volatility. Technical analysis indicates potential new highs for USDINR, with buyers targeting the 94.00 support level. Key upcoming economic reports include US Consumer Confidence, Q1 GDP, and ISM Manufacturing PMI.

Investinglive

The Indian Rupee erases all monthly gains amid the US-Iran stalemate

INDH

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The Indian rupee has fallen to its lowest level in over a decade, driven by rising crude oil prices and significant foreign portfolio outflows. The Reserve Bank of India's real effective exchange rate (REER) dropped to 92.72, indicating the currency is undervalued compared to its long-term average of 98.25. Key factors include increased oil import costs, heavy foreign investment withdrawals, subdued inflation, and a sharp depreciation trend since late 2024. Despite appearing undervalued, analysts predict limited recovery due to persistent dollar demand and global uncertainties.

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What triggered the Indian rupee’s sharpest fall in years? 5 key reasons

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The government has extended the tenure of the Managing Directors of Bank of India (BoI) and Bank of Baroda (BoB) for three years. Rajneesh Karnatak's term as MD and CEO of BoI is extended until April 29, 2026, while Debadatta Chand's term as MD and CEO of BoB is extended until July 1, 2026. The government has not yet decided on the extension for UCO Bank's MD and CEO Ashwani Kumar, whose term ends on June 1, 2026. Additionally, Ashutosh Choudhary's term as executive director of Indian Bank has been extended for three years.

ICBCCS Indian Market Fund(LOF)(CNY)

Govt extends tenure of BoI, BoB managing directors for 3 years

Indian equity benchmarks, BSE Sensex and Nifty 50, are expected to open lower on April 23, following a decline of nearly 1% on April 22 due to selling pressure in IT stocks and geopolitical uncertainties. GIFT Nifty indicates a weak start at around 24,226. Global markets showed mixed results, with US stocks rising on positive earnings and geopolitical developments, while Asian equities saw gains. FIIs continued selling, offloading over Rs 2,000 crore in equities, while DIIs turned net sellers, offloading more than Rs 1,000 crore.

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First Tick: Top global cues to watch in today’s trade

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The Centre has approved the procurement of 20 lakh tonnes of potatoes in Uttar Pradesh at ₹6,500.90 per tonne, costing ₹203.15 crore, to protect farmers from distress sales. Additionally, the procurement limit for gram in Andhra Pradesh has been raised to 1.13 lakh tonnes, and the procurement window for tur in Karnataka has been extended to May 15. These measures aim to ensure farmers receive fair prices and avoid distress sales during peak harvest periods.

GX INDIA TOP 10

CAM MSCIINDIA-R

Centre okays UP potato procurement at ₹6,500/ton; raises gram limit in AP

ISHARES INDIA-U(09836.HK)