According to the International Copper Association India, India’s demand for copper increased by 13% yearly to reach 1,700 kilo tons in FY24, primarily due to the country’s fast-paced building and infrastructure development.
According to a statement from the International Copper Association India, infrastructure and building construction have historically contributed 11% of GDP and 43% of copper demand.
The demand for copper in the nation increased by 13% year over year in FY24, hitting 1,700 kilo tons, according to a survey conducted by the International Copper Association India. According to the most recent GDP figures, during the first half of the current fiscal year, the building and infrastructure industries expanded by 6.8% and 9.1%, respectively.
The patterns show a strong increase in the demand for copper, which is consistent with India’s GDP growth trajectory. Higher consumer spending, investments from the public and private sectors, and developments in important industries including infrastructure, transportation, building construction, and industrial and consumer goods—all of which saw double-digit increases in demand for copper—are driving the expansion.