INSUBCONTINENT EXCLUSIVE:
India's copper imports are on the rise despite capacity available to meet domestic demandCountry's copper imports went up by 26 per cent
to reach 60,766 tonnes in the first quarter of the current financial year (2021-22)
The imports were 48,105 tonnes during the corresponding period of 2020-21.According to the International Copper Association (ICA), which has
provided the data, the imports are expected to rise further during the current fiscal as economic activities have witnessed a rise due to
lifting of Coronavirus related curbs across the country.In fact the association said that the imports may touch the 3 lakh tonnes mark
during this period.The ironical part though is that copper imports are rising despite India having the capacity to meet the domestic demand
for the mineral.India had ended 2020-21 with copper imports of 2,33,671 tonnes.With 26 per cent to 30 per cent growth expected during the
current financial year, imports are likely to be in the range of 2,95,000 to 3,04,000 tonnes in 2021-22, the association said
further.Notably till May 2018, when the Sterlite copper plant in Tamil Nadu had closed down, India was among the leading exporters of the
mineral for more than 20 years, the association said.However during the same year, i.e
in 2018, India became the net importer of copper for the first time after Sterlite's closure, it added.
