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The Indian rupee plummeted to record lows on Friday, breaching the 88-per-dollar mark for the first time on concerns that punitive U.S. tariffs could hurt growth and further hit portfolio flows.

India s urban infrastructure sector has witnessed a massive investment of Rs 30 lakh crore in the last decade and is estimated to receive another Rs 10 lakh crore funding over the next four years, a top government official said on Friday.

Bajaj Finserv AMC’s Sorbh Gupta said US tariffs on India pose limited earnings risk, with only 2% of MSCI India revenues exposed. He sees strong opportunities in consumption-driven sectors, midcaps, smallcaps, building materials, domestic pharma, and chemicals.

Raamdeo Agrawal believes India is entering a new phase of economic growth. He suggests this cycle is stronger and more sustainable. Agrawal advises investors to be selective and focus on companies with strong earnings. He highlights opportunities for long-term wealth creation. Market experts emphasize the importance of fundamental changes and corporate earnings quality.

Equity markets are recovering from tariff hike concerns. Investors anticipate limited long-term growth impact. Focus shifts to Goods and Services Tax (GST) rate rationalisation. This is expected to boost domestic consumption. Experts highlight that government policies aim to revive demand. Opportunities exist in consumer staples, durables, and building materials. A broader structural recovery in consumption is anticipated.

Japan s Nikkei share average fell on Friday, as August s rally invited profit taking on the month s final trading day, while a stronger yen and some weak economic readings weighed.

European shares edged lower on Friday as investors geared up for a slew of euro zone data and a key U.S. inflation report for cues on the potential timing of interest rate cuts on both sides of the Atlantic.

Washington imposed an additional 25% tariff on Indian goods this week, doubling the total duties faced by the South Asian nation to 50%.

The Indian rupee weakened to a new all-time low against the offshore Chinese yuan on Friday, a move that could boost competitiveness for a segment of exporters in the South Asian nation facing hefty U.S. tariffs.

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