Global trade war can't stop Indian economy's animal spirits as numbers show

India’s economy is shrugging off global trade wars, relying on domestic consumption to stay on course to becoming the fastest-growing major economy this year.

Demand for bank loans remained solid going into the July quarter despite rising interest rates, and so was the case with services and manufactured goods, a cross-section of forward-looking indicators compiled by Bloomberg News show ahead of government data on economic growth due Aug. 31. Foreign investments slowed, highlighting risks to India’s balance of payments position.
 

Other risks loom in the form of higher oil prices, tightening global financial conditions and a shortfall in taxes that can