MARKET INSIGHT · EARNINGS INTELLIGENCEPolaris Earnings CalendarTrack market technicals, follow the S&P 500 outlook, stay ahead of company earnings, and explore crypto technicals—all in one place.

POLARIS EARNINGS CALENDAR

India’s Copper Industry Seeks Tariff Stability as Imports Rise and New Capacity Plans Face Pressure

India’s Copper Industry Seeks Tariff Stability as Imports Rise and New Capacity Plans Face Pressure

India’s primary copper producers have asked the government to preserve existing import duties in the 2027-28 Union Budget, warning that lower tariffs could intensify import competition and weaken the case for planned domestic investment. The request was made in a pre-budget submission to the Ministry of Mines by the Indian Primary Copper Producers Association (IPCPA), which represents Hindustan Copper, Hindalco Industries, Kutch Copper and Vedanta.

The association wants the 5% basic customs duty on refined copper under HS 7403 and on copper semis under HS 7407, 7408 and 7410 to remain unchanged.

IPCPA separately proposed doubling the duty on solar photovoltaic ribbons and busbars to 10% from 5%. It said India has manufacturing capacity of about 30,000 tonnes a year for those products, compared with domestic demand of roughly 25,000 to 28,000 tonnes, but that local facilities are underused because of low-priced imports, particularly from China.

The association said India’s copper industry has invested more than ₹30,000 crore in smelting, refining and manufacturing facilities since 1996, while additional investments of about ₹35,000 crore are being considered through 2030. It warned that even a signal of lower duties could make those expansion plans difficult to commit to.

IPCPA’s submission cited a 77% increase in India’s refined copper imports, from 280,000 tonnes in 2020 to 495,000 tonnes in 2025. The group argued that reducing import duties would not necessarily lower domestic copper prices because Indian prices are linked to international benchmarks; instead, it said, cheaper imports could gain market share and reduce the competitiveness of domestic producers.

The government has also identified copper as important to energy infrastructure, electric vehicles and solar power. The budget proposals remain industry recommendations, and no change to the duties has been announced.

Read the full account of the story

More from the Metals desk

More from Metals · Back to Polaris Earnings Calendar