India can make up for some of the commodity demand gap left by China given the latter's slowing economic growth, ANZ projects.
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, ANZ bank said in a report.
India's annual demand for major commodities like oil, coal, gas, copper, aluminum and steel could rise collectively by more than 5% until 2030, the bank estimated. That's compared against China's demand of between 1% to 5%.Kriangkrai Thitimakorn | Moment | Getty Images 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 will scale up its efforts to decarbonize by 2030, but those efforts may be frustrated by the nation's rapidly growing energy needs...India's annual demand for major commodities — like oil, coal, gas, copper, aluminum and steel — is expected to rise collectively by more than 5% from now till 2030, the bank estimated.
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