(fxcue news) - Indian shares look set to open flat to slightly higher on Monday, tracking mostly positive cues from global markets. There is some cheer on the economic front as official data showed India's GDP growth grew 6.2 percent in the December quarter of FY25, up from the 5.6 percent growth in the previous quarter and reversing two quarters of slowdown. For the full financial year FY25, the GDP growth rate, as per the second advance estimates, is seen marginally higher at 6.5 percent as against the 6.4 percent in the first advance estimates released in January. India's manufacturing PMI data and monthly vehicle sales data from automakers may garner some attention later in the day. Benchmark indexes Sensex and Nifty slumped 5.6 percent and 5.9 percent, respectively during February due to global trade uncertainties and persistent foreign investor outflows. Asian markets were broadly higher this morning after U.S. Commerce Secretary Howard Lutnick on Sunday said that the tariffs on Mexico and Canada will go into effect as scheduled on Tuesday, but President Donald Trump will determine their exact levels before implementation. Lutnick also indicated that an additional 10 percent tariff on Chinese imports remains on the table for Tuesday. China has already vowed to counter with all necessary measures. Meanwhile, an official factory survey showed on Saturday that China's manufacturing activity expanded at the fastest pace in three months in February. The Caixin manufacturing PMI jumped to 50.8 in February from January's 50.1. Gold edged higher in Asian trade as the dollar weakened amid expectations that Trump's tariff threats may trigger a global trade war and stoke inflation. Oil prices rose more than 1 percent as doubts grew over a U.S.-brokered peace deal between Russia and Ukraine following a tense meeting between Ukraine President Volodymyr Zelensky and U.S. President Trump in the Oval Office on Friday. U.S. stocks seesawed before ending sharply higher on Friday as signs of cooling inflation outweighed uncertainty around AI spending and geopolitical stability. PCE inflation rose 2.5 percent year-on-year in January, meeting estimates and slowing on an annualized basis. However, a measure of consumer spending posted the biggest monthly decline since February 2021, the goods trade deficit widened to a record high, and a model utilized by the Federal Reserve Bank of Atlanta projected an economic contraction in the first quarter of this year, signaling a slowdown in the world's largest economy. The S&P 500 and the tech-heavy Nasdaq Composite both surged around 1.6 percent, while the Dow added 1.4 percent. European stocks ended mostly higher on Friday despite increasing skepticism toward Trump's tariff threats. The pan European STOXX 600 ended flat with a positive bias. The German DAX finished marginally higher, France's CAC 40 edged up by 0.1 percent and the U.K.'s FTSE 100 climbed 0.6 percent.