The International Monetary Fund (IMF) has raised alarms about the detrimental impacts of trade tensions on the worldwide economy, leading to a downward revision of the global growth forecast to 2.8%. India, too, faces challenges with its growth projection slashed to 6.2% as a result of global uncertainties, despite strong private consumption in rural regions. The IMF has highlighted that escalated trade wars and policy uncertainties present substantial risks that could trigger financial instability.