Economics
India Growing 8% a Year Seen by Citi Helping Oil, Gold Demand
- Country’s oil demand growth is outpacing China’s this year
- Citi sees 2016 as best in four years for global commdities
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India has become the center of the world’s oil demand growth and the country’s economic growth will affect global commodities, Citigroup Inc. said in a research note.
The world’s second-largest country by population after China will see its economy expand at about 8 percent a year through 2021, Citi researchers including Ed Morse said. The country’s working-age population will increase by 220 million over the next 20 years, and about 240 million people will move to cities.