WITH THE QUALITY control order (QCO) on refined copper effective from December 1 and Japanese suppliers—who account for 80% of India's copper imports—still awaiting certification, the downstream industry has warned the government of a looming supply crunch that could last for over three months.
Due to insufficient domestic production, India depends on imports for 30-40% of its refined copper needs, a critical raw material used to manufacture electrical wires and cables. In 2023-24, it imported refined copper worth ₹16,500 crore from Japan.
Now, with the QCO issued by the Ministry of Mines, producers across the world, including those in Japan, are barred from exporting refined copper to India without a certification from the Bureau of Indian Standards (BIS).
This story is from the December 06, 2024 edition of Financial Express Delhi.
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This story is from the December 06, 2024 edition of Financial Express Delhi.
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