Indian Copper market is gaining pace amidst global recession

In contrast to the global economy, India is picking up the pace in recent times.

- Pritha Misra

India’s economy, income, and consumption are all expanding, making it one of the world’s copper markets with the fastest growth rates in 2022. Despite the global recession, the Indian copper market has left behind that of China. India’s economy is booming across all industries, from manufacturing to infrastructure and real estate, thanks to increased demand following the Covid-19 outbreak, rising incomes, and several government programmes that have stimulated spending. According to the data provided by World Bureau of Metal Statistics, India’s consumption of refined copper increased by 45% from 2021 to 435,466 tonnes between January and August of this year, exceeding worldwide growth of 4% and China’s growth of 5% during the same time. It is believed by most of the big copper maker industries that demand for copper has returned to pre-Covid levels.