Rashtrapati Bhavan, the official residence of the President of India, in New Delhi.
China's growth slowdown is set to hurt global commodity demand, but India could make up for some of that shortfall, according to ANZ.
India's economic growth is likely to outpace China's, with the South Asian nation set to become the third-largest economy by the end of this decade, the bank predicted.
That means India's demand for commodities will likely surge, and it could cover more than half of China's demand shortfall especially in the energy sector, the bank said in a recent report.
"India's demand for commodities is slated to grow rapidly, supported by favorable demographics, urbanization, the expansion of manufacturing and exports and the build-up of infrastructure," ANZ analysts wrote.
Persons:
Rashtrapati
Organizations:
Rashtrapati Bhavan, ANZ, South
Locations:
India, New Delhi, China