India's copper import bill crosses ₹1 trillion as structural gaps widen

India's copper import bill has surpassed ₹1 trillion, reflecting a 350% increase since FY17, driven by rising demand from electric vehicles and renewable energy. Prime Minister Modi highlighted the country's shift to net importer status due to domestic plant shutdowns and structural weaknesses in the copper ecosystem. Despite significant reserves, production stagnation and policy gaps hinder growth, with domestic demand outpacing supply. High financing costs and global refining challenges further complicate the situation, as foreign refiners benefit from favorable trade agreements.