Copper Demand to Surge as India Shifts to Clean Energy

As the world moves towards cleaner energy sources, the demand for copper, essential for electric vehicles and renewable technologies, is expected to rise significantly. Hindustan Copper Chairman Ghanshyam Sharma highlights India's commitment to net zero emissions by 2070, projecting a substantial increase in domestic copper consumption.

As the global transition to cleaner energy sources gains momentum, the demand for copper is poised to surge, according to Hindustan Copper Chairman and Managing Director Ghanshyam Sharma. Copper is a critical component in electric vehicles and renewable energy technologies, which are pivotal in the fight against climate change.

Sharma emphasized that moving away from fossil fuels to renewable energy sources such as solar, wind, hydro, and geothermal can significantly reduce greenhouse gas emissions. This shift portends an increased demand for copper used in electric vehicles, solar panels, and wind turbines.

Hindustan Copper Limited (HCL) has been entrusted with the efficient and sustainable utilization of the nation's copper resources. Sharma noted India's commitment to net zero emissions by 2070, projecting healthy domestic refined copper demand growth at 11% by FY25, driven by the government's focus on infrastructure development and renewable energy projects.