InvestorQ : How did India turn from being an exporter of copper to an importer of copper?
Anjana Aiyar made post

How did India turn from being an exporter of copper to an importer of copper?

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Khushi Patel answered.
3 months ago
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India is up against a surge in copper imports and in the last 2 years it has moved from being a net copper exporter to a net copper importer. Apart from rising demand, the shutdown of Vedanta’s Tuticorin Copper Smelter was a key factor. The plant had been shut down on the orders of the Tamil Nadu state government after the police fired on anti-copper plant protesters leading to several deaths. The protests were for environmental reasons.

For the quarter ended June 2021, imports of copper are up 26% at 60,755 tonnes. Total copper imports for FY22 are likely to cross 300,000 tonnes. The copper situation changed sharply after the plant shutdown as India moved from a huge export earnings on copper to a huge import bill on copper. Copper has applications in a variety of industries like electrical goods, construction, automobiles, electronics etc.

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