India is taking steps to safeguard its copper supply amid tightening global markets, initiating internal discussions and drafting strategies to secure resources through trade agreements with mineral-rich nations, according to government sources and a draft policy document reviewed by Reuters.
With domestic production covering just a fraction of its demand, India currently imports more than 90% of the copper concentrate it needs—a figure projected to climb to 97% by 2047. The nation’s refined copper output stands at approximately 573,000 metric tons annually, compared to a demand nearing 1.8 million tons.
To bridge this widening gap, New Delhi is considering incentives for foreign investment in domestic copper smelting and refining. Discussions may include outreach to major global producers such as Chile’s Codelco and Australia’s BHP, with potential proposals to establish joint ventures or local infrastructure partnerships. While Codelco declined to comment, BHP and India’s Ministry of Mines did not respond to Reuters inquiries.
Another avenue under review includes Indian state-owned enterprises investing in overseas mining operations in exchange for secure supply channels and technical collaboration to enhance domestic refining capabilities.
The urgency stems in part from the 2018 shutdown of Vedanta’s Sterlite Copper smelter, which significantly impacted India’s refining capacity. Since then, copper imports have surged—reaching 1.2 million metric tons in the fiscal year ending March 2025, a 4% increase year-on-year.
As global copper demand rises, especially from sectors like electric vehicles and renewable energy, India’s proactive approach signals a strategic shift toward long-term resource security and industrial self-reliance.
