India's GDP growth in 2026/27 faces key downside risks from a widening war in the Middle East that is driving up oil prices and a monsoon weakened by the El Nino weather effect, an International Monetary Fund official said. Asia's third-largest economy imports almost 80% of its oil needs, making it vulnerable to energy shocks that could hurt growth and stoke inflation. The Fund cut India's GDP growth forecast for 2026/27 by 10 basis points to 6.4% this month, while raising its 2027/28 forecast by 20 basis points to 6.7%.