To meet rising demand for copper, India relies heavily on imports. Its imports of refined copper increased by 30% in the financial year of 2023 and 180% in the first half of FY2024. Prior to the 2018 closure of Vedanta’s 400ktpa Tuticorin smelter in Tamil Nadu, India was a net exporter of copper.
However, the shutdown of Tuticorin effectively halved the country’s refined copper production, transforming India into a net importer of the metal.
Nevertheless, the situation is expected to evolve this year, as a new domestic refined capacity is set to commence operations, thereby reducing the dependence on imports.
Kutch Copper's US$1.2bn new copper smelter and refinery, located in the western city of Mundra in Gujarat state, is set to start operations in the next few weeks. It will have an initial capacity of 500ktpa of copper cathode. Kutch Copper, a subsidiary of Adani Enterprises, also plans to expand the capacity to 1Mtpa by 2028/2029.