New Delhi, June 15 -- The Indian economy is primed for a faster pace of growth because inflation is easing, consumption is rising, and borrowing costs are declining. However, the sudden flare-up of tensions in West Asia could play spoilsport.

Mint looks at the crisis closely and the possible fallout for India and its businesses with a particular focus on how oil prices will play out.

It is. The factors holding back the Indian economy are easing, setting the stage for an accelerated pace of growth. Domestic consumption is reviving as reflected by goods and services tax (GST) collections in the last three months. In April and May, it exceeded Rs.2 trillion. Growth in GST collections from domestic goods rose by 13.7% in May and 10.7% in Ap...