Hind Copper bets big on electric vehicles, renewable energy to drive demand growth
State-owned Hindustan Copper expects electric vehicles and renewable energy to drive the demand growth for copper in India, taking the per capita consumption from a level of 0.5 kg to 1 kg by 2020. The projected demand for copper due to electric vehicles will increase by 1,700 kilo tonne by 2027, according to Santosh Sharma, CMD, Hindustan Copper.
Copper demand is expected to grow at 9.10% in tandem with the economic growth of the country. Renewable energy in the form of 100 giga watt of solar, 32 GW of wind, 62 GW of hydro and green energy corridor would drive the demand growth.
