India’s Copper Demand Skyrockets Amid Infrastructure Boom

India's copper demand increased by 13% in FY24, reaching 1,700 kilo tonnes, propelled by accelerated infrastructure development and construction activities. The surge, supported by economic growth and investments, continues post-Covid, with significant contributions from building, infrastructure, and consumer sectors.

India's copper demand has surged to 1,700 kilo tonnes in FY24, marking a 13% annual increase, according to the International Copper Association India. The rise is attributed to the fast-paced growth in infrastructure and building construction sectors across the country.

Traditionally, these sectors have contributed significantly, accounting for 43% of the copper demand while influencing 11% of the nation's GDP. The post-Covid economic expansion has further fueled this growth, with an annual rise of 21% in copper demand recorded between FY21 and FY24.

The industry body anticipates a continued increase in demand as infrastructure and building construction sectors expand. This trend is supported by both public and private sector investments and aligns with GDP growth, underscoring substantial developments in transportation, industrial, and consumer goods sectors.

(With inputs from agencies.)