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Informist, Tuesday, Jul. 28, 2026

 

MUMBAI – India's copper demand is expected to triple by 2030, driven by rapid growth in renewable energy, electric vehicles, power transmission, construction, and manufacturing. The country's push towards electrification and clean energy is set to make copper one of the more critical metals for economic growth over the next decade, according to a report by BigMint. Refined copper demand is expected to increase to 3-3.3 million tonnes by 2030 from around 1.2 million tonnes currently, and further to 8.9-9.8 million tonnes by 2047, according to government estimates cited in the report.

 

BigMint (formerly known as SteelMint) is a market intelligence, price reporting, and consulting platform for the global commodities sector, specialising in industries like steel, metals, coal, and energy. "India's next phase of copper consumption will be driven less by traditional construction activity and consumer durables than by the country's energy transition and industrial modernisation agenda. Renewable energy, power transmission, electric mobility, electronics manufacturing and rail infrastructure are expected to account for an increasing share of future demand," the report said.

 

"The opportunity remains substantial. India's per-capita copper consumption is around 0.6 kg, well below the global average of approximately 3.2 kg, suggesting considerable scope for long-term demand growth as urbanisation, electrification and industrialisation continue," it added.

 

However, the domestic supply chain faces significant challenges in keeping pace with this surge in demand. India's copper ore reserves remain limited, forcing the industry to depend heavily on imported concentrates. Even as refining and smelting capacities expand, securing adequate raw material supplies remains a key concern for producers.

 

The report said the rising demand from solar and wind projects, electric vehicles, charging infrastructure, transmission networks, and urban infrastructure development will substantially increase copper consumption. At the same time, the long gestation period for developing new mines and growing competition for resources globally could tighten supplies.

 

To support rising domestic consumption, India is rapidly expanding its copper refining base. According to the government's Copper Vision Document 2025, installed refining capacity is projected to increase to around 2.8 million tonnes by 2030, before reaching 8.5-9.0 million tonnes by 2047.

 

To bridge the anticipated demand-supply gap, India will need a multi-pronged strategy focused on expanding refining capacity, increasing recycling, securing overseas mining assets, and strengthening domestic exploration activities, according to the BigMint report. Industry participants are also expected to invest in technology and supply-chain integration to improve security of raw material supply.

 

With copper emerging as a cornerstone of India's energy transition and industrial expansion, ensuring reliable and sustainable supply will be critical. The country's ability to scale up production, diversify sourcing, and strengthen recycling infrastructure will determine whether supply can keep pace with the sharp rise in demand expected by the end of the decade, the report said.  End

 

Reported by Khushi Singh

Edited by Shubhayan Bhattacharya

 

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