In this episode of the State of Economy Podcast, businessline’s Subramani Ra Mancombu speaks with Mayur Karmarkar, Managing Director of the International Copper Association India. In this episode, we focus on the rapidly growing demand for copper in India, driven by several key sectors including construction, infrastructure, and the electrification of transportation. 

The episode starts with discussing the current trends in copper demand. Karmarkar talks about how copper is playing an essential role in India’s economic development, particularly in the post-pandemic era, where demand has surged by 21% between 2021 and 2024. He explains how sectors such as building construction, industrialisation, and power generation are significantly contributing to this growth. 

Karmarkar talks about the challenges and opportunities within the copper supply chain, by refining copper scrap rather than simply melting it, India could enhance its domestic copper supply and reduce its reliance on imports. 

With the growing focus on electric vehicles and the greening of the economy, copper is becoming an essential component for future growth. He discusses how this demand will continue to rise, especially with India’s efforts to modernise its infrastructure and build a greener economy. 

The episode also touches on the role of scrap copper, the potential for new smelting capacities in India, and how future trade dynamics might impact the supply and demand landscape. As the country looks towards 2025 and beyond, Karmarkar offers his perspective on the projected growth in copper demand and how the industry is preparing to meet these needs. 

(Host: Subramani Ra MancombuProducer: Prethicshaa Gurumoorthy)

About the State of the Economy podcast

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.

Published on December 11, 2024