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India’s copper demand set to surge 7% driven by clean energy boom and infrastructure projects

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India's copper demand set to surge 7% driven by clean energy boom and infrastructure projects

Propelled by increasing consumption in the renewable energy sector and infrastructure development, copper demand in India is expected to rise by around 7% in the coming years, according to industry officials.
Policy initiatives such as the construction of industrial corridors, the “Housing for All” program, national highway development projects, and energy transition efforts are driving the growing demand for copper, PHDCCI President Hemant Jain told PTI.
“Copper demand is expected to rise by 7% in India in the coming years. The copper sector is poised to attract private investments, supported by government initiatives like the Production-Linked Incentive (PLI) scheme and Atmanirbhar Bharat,” Jain noted.
Industry estimates suggest that India’s refined copper production stands at around 555,000 tonnes annually, while domestic consumption exceeds 750,000 tonnes. To bridge this gap, India imports approximately 500,000 tonnes of copper each year.
Investment trends
Experts project that copper demand could double by 2030, significantly widening the demand-supply gap and increasing India’s reliance on foreign sources.
The transition from fossil fuels to renewable energy will require substantial amounts of copper for the manufacturing of electric vehicles (EVs), solar panels, wind turbines, and EV batteries.
In response to the rising demand, domestic conglomerates like JSW Group, Aditya Birla Group, and Adani Group have pledged significant investments in copper production facilities to boost local output.
“The critical role of copper in India’s decarbonization strategy is well recognized by India Inc. Companies are investing in this mineral not only to address the demand-supply gap but also to align with government policies,” said former steel secretary Aruna Sharma.
Given copper’s rising prices, investments in copper production and smelting are also seen as profitable ventures, Sharma added.
Demand-supply gap
Industry experts have urged the government to tap into the potential of local plants that remain underutilized. The closure of Vedanta’s Sterlite plant in Tuticorin, Tamil Nadu, in 2018, eliminated more than 46% of the country’s copper production capacity, turning India into a net importer of refined copper.
Between 2013-14 and 2017-18, domestic refined copper production was growing at a compound annual growth rate (CAGR) of 9.6%, with India even being a net exporter during that period.





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