APRIL 20258COPPER DEMAND IN INDIA TO RISE 7% DRIVEN BY ENERGY & INFRA GROWTHUS APPROVES HISTORIC NUCLEAR TECH TRANSFER TO INDIA, BOOSTING CIVIL DEALDriven by increasing usage in the renewable energy field and infrastructure advancements, copper demand is expected to increase by approximately 7 percent in the nation in the near future, as per industry experts. According to PHDCCI President Hemant Jain, policy initiatives like the development of industrial corridors, housing for every Indian, national highway projects, and energy transition efforts are boosting the demand for copper, which is expected to rise significantly."Copper demand is expected to rise by 7 per cent in India in coming years. The copper sector is expected to attract private investment, supported by handholding by the government, especially through initiatives such as the PLI and Atmanirbhar Bharat," Jain said.As per industry estimates, India's refined copper output is approximately 555,000 tonnes annually, while domestic consumption exceeds 750,000 tonnes. India imports approximately 500,000 tonnes of copper annually to satisfy domestic demand.Industry analysts have forecasted that the demand for copper could double by 2030, significantly widening the demand-supply gap and making India reliant and susceptible to foreign countries.The shift from fossil fuels to renewable energy will necessitate vast quantities of copper to facilitate the production of EVs, solar panels, wind turbines, EV batteries, and more, they stated.Local conglomerates such as JSW Group, Aditya Birla Group, and the Adani Group have pledged significant investments in copper manufacturing plants to boost domestic output in response to rising demand for the base metal."The criticality of copper as an integral part of the country's decarbonisation strategy is not lost to India Inc. Hence, it is making investments in this mineral, not just to bridge the demand-supply gap but also align its policies with those of the government," former steel secretary Aruna Sharma said. limited to the scarcity-centered "10CFR810" regulation of the U.S. Atomic Energy Act, permits Holtec to transfer technology to its Indian regional subsidiary Holtec Asia, as well as Tata Consulting Engineers Ltd. and Larsen & Toubro Ltd.Holtec has been engaged in manufacturing operations in Dahej, Gujarat, and engineering operations in Pune since 2010, and was founded by Indian-American Kris P. Singh. The Holtec request originally incorporated Nuclear Power Corporation of India Ltd. (NPCIL), NTPC Ltd., and Atomic Energy Review Board (AERB), but the Indian government did not provide the critical non-proliferation assurances for NPCIL, NTPC, or the AERB, said the Indian Express report.Nevertheless, Holtec may apply for an amendment in the future to incorporate them as permissible end-users. The authorisation has a 10-year duration, which may be reviewed every 5 years. This authorisation is dependent upon assurances from the Indian government regarding the private entities that will be receiving the technology, which on March 3, 2025, assured that the private entities receiving the technology will only use the technology for peaceful use of nuclear activities involving International Atomic Energy Agency (IAEA) safeguards and were prohibited from using the authorisation for military or nuclear explosive devices. In a watershed moment, the US Department of Energy (DoE) has issued groundbreaking regulatory approval to a US company for the design and construction of nuclear reactors in India, thus marking the potential commercial realization of the India-US civil nuclear agreement that was concluded two decades ago.Holtec International, a US-based company, on March 26, 2025, got regulatory approval to transfer unclassified small modular reactor (SMR) technology to three Indian companies, as reported by The Indian Express. The approval, which is TOP STORIESTOP STORIES
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