Copper's Rising Demand: Powering India's Green Future

Copper demand in India is projected to grow by 7% in the coming years, driven by renewable energy initiatives and infrastructure development. Despite current shortages, significant investments by conglomerates and government initiatives aim to bridge the demand-supply gap and support India's decarbonisation strategy.

The demand for copper in India is expected to surge by 7% in the coming years, spurred by increasing consumption in the renewable energy sector and infrastructure development, industry officials report.

Key policy initiatives, including industrial corridor construction, housing projects, and national highway and energy transition developments, are fueling this demand. Government support, through programs like PLI and Atmanirbhar Bharat, is anticipated to attract private investment into the copper sector, according to Hemant Jain, President of PHDCCI.

India's refined copper production currently falls short of domestic consumption, necessitating imports. However, with forecasts suggesting a doubling of copper demand by 2030, conglomerates like JSW Group, Aditya Birla Group, and Adani Group are ramping up investments in local production facilities. These efforts aim to address the demand-supply gap and align with governmental decarbonisation strategies, as stated by former steel secretary Aruna Sharma.

(With inputs from agencies.)