NOVEMBER, 20258TOP STORIESTOP STORIESVEDANTA TO INVEST $1.5 BILLION IN NEW US COPPERTECH VENTUREWORLD BANK URGES INDIA TO PUSH FINANCIAL REFORMS FOR $30T VISIONVedanta Ores has announced the inception of CopperTech Metals Inc, a subsidiary based in the United States, will directly own and operate the KCM. The move is consistent with the Trump administration's policy of deepening the domestic mining sector while limiting metal imports.Led by Anil Agarwal group, the conglomerate is seeking to pump a $1.5 billion fresh round of capital into the copper tech implementation initiative to "make America more copper independent" while meeting its infrastructural and clean energy needs. CopperTech Metals CEO Priya Agarwal-Hebbar, Director at Vedanta and Chairperson of Hindustan Zinc, will continue her corporate leadership journey as Chairperson of CopperTech Metals.Vedanta has the KCM copper production factory capacity increase in its sights, from integrated annual production of 140,000 tons in FY26 to 300,000 tons in FY31 with a target of 500,000 tons yearly in the long run thereby creating one of the biggest copper producers in the world. The idea accompanies the conglomerate's already $3 billion investment in KCM, implementing AI-led exploration and extraction technology to make operations more productive and efficient.The world needs copper. Demand for copper is expected to more than double by 2040, primarily due to the AI data centers, electric vehicles, and power grid modernization. The US-backed Lobito Corridor, a $10 billion superhighway linking the Copperbelt in Zambia with Angola's Atlantic coast--will be the area where Copper tech gradually opens trade from Zambia's copper industry to US markets."The launch is the start of a historic partnership that links America's mineral future with the copper heritage of Zambia," Anil Agarwal, the Chairman of Vedanta said aligning this move with his company's strategic plan for global energy transition and industrial progress. inclusion across the demographics, especially for women, to India's global-standard digital public infrastructure and a series of progressive government initiatives.While acknowledging these achievements, the World Bank urged for more aggressive moves to increase account usage, provide easier access to a wider range of financial products for individuals and MSMEs, and invigorate private capital mobilization as a means of sustaining long-term economic growth.Regarding regulation, the paper praised India for extending the oversight of cooperative banks, tightening prudential rules, and implementing scale-based regulation for NBFCs, yet it suggested India to get further credit risk management by improving frameworks.The first paragraph of the report stated: "Moreover, the authorities are encouraged to accelerate the upgrade of credit risk management systems with a particular focus on the implementation of more prudent underwriting practices and strengthening the internal control and risk management processes in banks and NBFCs."Moreover, capital markets in India have become quite extensive, with their total value going up from 144 percent to nearly 175 percent of GDP since the last FSAP, and this growth has been powered by a strong set of infrastructure and a wide range of investors. According to the World Bank's Financial Sector Assessment (FSA) report, India has to fast-track reforms in the financial sector and also boost mobilization of private capital to achieve its goal of becoming a $30-trillion economy by 2047.This report, part of the joint Financial Sector Assessment Program (FSAP) by the IMF and the World Bank, points out that India's financial system has become more resilient, diversified, and inclusive since the last review in 2017. It attributes the improvement in financial
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