Copper Demand May Hit 3.24 MT by FY30, Report Warned on Policy Impediment

India must urgently reform its mining framework to attract investment in copper exploration and production, as the country’s dependence on imports grows amid surging demand, a new report has cautioned. The study by the Centre for Social and Economic Progress said India’s geological potential remains underutilised due to policy hurdles, while demand for copper is projected to rise sharply to 3.24 million tonnes by FY 2030.

Rising Demand But India Depends on Imports

At present, India depends on imports for more than half of its copper requirements. The report noted that copper is critical for electricity networks, electric vehicles, renewable power, construction, and advanced manufacturing. With global and domestic demand accelerating, the think-tank stressed that India must explore and mine more of its untapped reserves to secure long-term supply.

Also Read: Copper Deposits Found in Hazaribagh and Koderma, Auction Process to Begin Soon

Need to Ease Policy Impediment

The study highlighted that under the current regime, the auction process for mineral concessions and delays in statutory approvals discourage investors. “Streamlining auctions, approvals and project clearances is critical to avoid impediments and attract serious investment in copper mining,” it said. Hindustan Copper Ltd, the country’s only producer, has struggled to expand output, leaving India vulnerable to global price swings and supply shocks.

Also Read: Rakha Copper Mines Received Environmental Clearance to Resume Operations

Energy Transition at Stake

Analysts pointed out that copper is at the heart of the energy transition, with demand from renewables and electric vehicles expected to grow rapidly in the coming decade. Without decisive policy changes and investment flows, India risks missing opportunities to build domestic capacity, reduce import dependence, and strengthen its role in global supply chains.

Also Read: Two New Copper Deposits Discovered in Giridih, Jharkhand

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