If you're looking to bet on commodities, take a breather.

Any revival in prices will be slow and an upswing is unlikely before 2017 or 2018, according to Japan's biggest trading house.

While Mitsubishi Corp. is in no rush to add commodity assets, it believes the recovery may lie with India, said Chief Financial Officer Shuma Uchino. If Prime Minister Narendra Modi's government delivers on its ambitious investment plans, India's infrastructure build-out could replace fading Chinese growth as a driver for markets.