India’s demand for copper is projected to expand by 10–12% annually over the next two years, driven by strong consumption in sectors such as power, infrastructure, renewable energy, and electrical equipment, ratings agency ICRA said on Tuesday. The anticipated growth reflects continued industrial activity and rising investments in green technologies that rely heavily on copper for components and wiring.
According to ICRA, strengthening economic indicators and government initiatives aimed at modernising infrastructure are expected to sustain robust demand for the metal. Urbanisation, expansion of electric vehicle (EV) charging networks, and increased usage of consumer electronics are additional factors supporting higher copper consumption.
Analysts noted that constrained global supplies and rising input costs could pose challenges, but domestic demand fundamentals remain solid. The forecast aligns with India’s broader push toward electrification and sustainable energy solutions, highlighting copper’s key role in economic development and industrial growth