India exported copper products, essential for sectors like power and infrastructure, worth Rs 36,000 crore in the past three years, but imports of refined copper have trebled over five years, growing at a compounded annual growth rate of 25%.
The India-Japan comprehensive economic partnership agreement or CEPA has led to copper cathode imports from the partner rising by over 20 times between 2013-14 and 2014-15, according to industry reports.
Between April and June 2016, India imported copper wire worth Rs 78 crore from Asean countries, almost double the imports recorded in the same quarter last year. Raw material scarcity has also been identified as a challenge, as India imports almost 100% of its copper concentrate needs.