New Delhi: As the world turns to clean energy sources to mitigate climate change, demand for copper, a key component in electric vehicles, will increase significantly, according to Ghanshyam Sharma, Chairman and Managing Director, Hindustan Copper.
By transitioning from fossil fuels to renewable energy sources such as solar, wind, hydroelectric and geothermal, greenhouse gas emissions can be significantly reduced.
The CMD said in a recent message of the company, "As the world is moving towards clean energy sources... the demand for copper as a critical component in electric vehicles and renewable energy technologies like solar panels, wind turbines etc. will increase significantly. Will go." Website.
He further said that the company has been given the charge of utilizing the country's copper resources in an efficient and sustainable manner.
He said, India is committed to achieve net zero emissions by 2070.
According to ICRA, given the Centre's emphasis on infrastructure development and gradual transition to renewable energy, growth in domestic refined copper demand is expected to remain healthy at 11 per cent in FY20, which will outpace the global growth rate in copper demand. Will leave behind.
In the domestic market, about 40 per cent of copper consumption is in the infrastructure and construction sector and 11-13 per cent in the automobile and consumer durables sectors.
The Centre's focus on affordable housing schemes, smart city projects, defense sector as well as expected higher penetration of EVs and its associated infrastructure bodes well for the outlook for domestic copper demand.
Hindustan Copper Limited (HCL) was the sole producer of refined copper until 1995. Currently, three major players dominate the Indian copper industry, namely HCL in the public sector, Hindalco Industries Limited and Vedanta in the private sector.
By transitioning from fossil fuels to renewable energy sources such as solar, wind, hydroelectric and geothermal, greenhouse gas emissions can be significantly reduced.
The CMD said in a recent message of the company, "As the world is moving towards clean energy sources... the demand for copper as a critical component in electric vehicles and renewable energy technologies like solar panels, wind turbines etc. will increase significantly. Will go." Website.
He further said that the company has been given the charge of utilizing the country's copper resources in an efficient and sustainable manner.
He said, India is committed to achieve net zero emissions by 2070.
According to ICRA, given the Centre's emphasis on infrastructure development and gradual transition to renewable energy, growth in domestic refined copper demand is expected to remain healthy at 11 per cent in FY20, which will outpace the global growth rate in copper demand. Will leave behind.
In the domestic market, about 40 per cent of copper consumption is in the infrastructure and construction sector and 11-13 per cent in the automobile and consumer durables sectors.
The Centre's focus on affordable housing schemes, smart city projects, defense sector as well as expected higher penetration of EVs and its associated infrastructure bodes well for the outlook for domestic copper demand.
Hindustan Copper Limited (HCL) was the sole producer of refined copper until 1995. Currently, three major players dominate the Indian copper industry, namely HCL in the public sector, Hindalco Industries Limited and Vedanta in the private sector.
