India's copper demand set to grow 7% on clean energy push: PHDCCI

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India's copper demand set to grow 7% on clean energy push: PHDCCI - Business Standard

Quick Summary:

Propelled by growing consumption in the renewable energy sector and infrastructure development, copper demand is likely to rise about 7 per cent in the country in the coming years, according to industry officials.

Policy initiatives such as construction of industrial corridors, housing for all Indians, national highway development projects, and energy transition projects are driving the demand for copper and it is anticipated to increase significantly, PHDCCI President Hemant Jain said.

According to industry estimates, India's refined copper production is around 555,000 tonnes per year against domestic consumption of more than 750,000 tonnes.