The Centre for Social and Economic Progress (CSEP) hosted a seminar titled “The Copper Report: Navigating Through the Demand and Supply Gap” on Thursday, September 4, 2025.

The session opened with a presentation by Tanima Pal, Research Associate, CSEP, drawing insights from a recent CSEP Report. The presentation was followed by a discussion on the report with S. Vijay Kumar, Distinguished Fellow, TERI and Mayur Karmarkar, Managing Director, International Copper Association India. The seminar then featured a panel discussion with Mohanasundaram Natarajan, Business Head – Strategic & Precious Metals, Kutch Copper Ltd. and Ruchi Kukreja, Head – Business Development and Advocacy, Hindalco Industries Ltd. Rajesh Chadha, Senior Fellow, CSEP, chaired and moderated the session.

About the event

Copper, a cross-cutting metal, is required as a critical input in conventional as well as energy transition technologies, power grids, manufacturing, and construction. Switching to renewable energy for power generation and electrifying the global vehicle fleet are key pillars of the low-carbon transition, both of which are highly copper-intensive. The annual global demand for refined copper is expected to increase from 26.5 million tonnes in 2023 to 50 million tonnes by 2050, driven by energy transition, growth in digital infrastructure, and rapid industrial growth. Usually, an electric vehicle requires three to four times more copper than an Internal Combustion Engine (ICE) vehicle. India’s copper requirements and resilience should be studied in the face of the expected surge in global copper demand. India’s climate ambitions of net zero emissions (NZE) by 2070 and attaining a developed economy status by 2047 will elevate copper’s demand concomitantly. Nevertheless, India remains heavily reliant on copper imports due to structural vulnerabilities within its domestic copper supply chain.

This report endeavours to assess the current status of the copper sector in India while positioning the Indian copper supply chain in the context of the global landscape, navigating through the demand-supply gap. It examines India’s import dependency on specific segments of the value chain, analysing trends in the import of concentrates, semi-finished, and end-use products, and scraps over the years. The factors driving these trends, such as the domestic mining policy, tariff structures, trade incentives, and other barriers, are also being explored.

The report synthesises the challenges and opportunities for India’s copper sector, offering targeted recommendations to key stakeholders, including the government, industries, and policymakers, to develop a robust and sustainable strategy for copper aligned with international best practices.

Presenter

Tanima Pal

Tanima Pal is a Research Associate in the Minerals and Mining team of the Energy, Natural Resources, and Sustainability domain. Prior to joining CSEP, she worked in ‘Legal Initiative for Forest and Environment’ and also served as a Young Professional at Rajasthan Gramin Ajeevika Vikas Parishad. She holds a master’s in Natural Resources and Governance from the Tata Institute of Social Sciences, Hyderabad. Her research interests primarily revolve around sustainability, governance, environmental and climate justice, and the socio-economic aspects of policy issues.

Chair & Moderator

Rajesh Chadha

Rajesh Chadha is a Senior Fellow at CSEP. He was formerly a Professor and Research Director at the National Council of Applied Economic Research (NCAER) and, prior to that, an Associate Professor of Economics at Hindu College, University of Delhi. Dr Chadha has worked extensively on the issues of international trade, FDI, and non-fuel minerals and mining in India. He has been a visiting scholar at the Universities of Michigan, Melbourne, and Monash and a visiting faculty member at many prestigious academic and research institutes in India. Dr Chadha was nominated as a GTAP Research Fellow (2004-2007) by the Global Trade Analysis Project (GTAP), Purdue University. His recent work encompasses assessing the criticality of minerals and projecting their needs for green technologies. Dr Chadha received his PhD in Economics from the Indian Institute of Technology, New Delhi.

Panelists

S. Vijay Kumar

Mr S. Vijay Kumar joined the Indian Administrative Service (IAS) in 1976 and served in senior positions at the Central and State levels. He has served as the Secretary of India’s Ministry of Rural Development (2012-13) and as Additional Secretary and Secretary, Ministry of Mines (2008-2011). Mr Kumar joined the Energy and Resources Institute (TERI) as a Distinguished Fellow in November 2013. He has authored, along with colleagues in TERI, policy papers on mineral resources, environmental governance and water resources. He has been a Member of the United Nations’ International Resource Panel (IRP) since 2015, which considers issues relating to governance of resources and poverty.

Mayur Karmarkar

Mayur Karmarkar oversees the International Copper Association’s (ICA) projects in India, where he also contributes to the Clean Energy Transition, Green and Healthy Buildings, and Market Strategy programmes. In his role, he supports the sustainable development of copper markets and works with regional copper industry stakeholders to contribute to the UN Sustainable Development Goals (SDGs) in India. He is committed to enabling a green transition for developing countries and promoting sustainable growth. His work on accelerating energy efficiency and green building markets, which also addresses various market and institutional barriers, is well recognised. Mayur holds a graduate degree in engineering and a post-graduate Diploma in Business Management from Pune University.

Mohanasundaram Natarajan

Mohanasundaram Natarajan brings over 30 years of experience in operations, project management, and strategic development within the precious metals industry. He currently heads the Strategic and Precious Metals division at  Kutch Copper Ltd. (Adani Enterprises) in Gujarat. Previously, he held leadership roles at Gemfields Plc and Pallinghurst Resources, where he spearheaded acquisitions, process optimisation, and performance improvement across global mining assets. His early career included key operational roles at Vedanta-Sterlite Copper, Konkola Copper Mines, Ararat Gold Recovery, and Steel Authority of India. Academically, he holds executive credentials from Stanford, the London School of Economics and Political Science, and London Business School, with a metallurgy degree from PSG College of Technology and technical training at the University of East London.

Ruchi Kukreja

Ruchi Kukreja is Head of Business Development & Policy Advocacy at Birla Copper (Hindalco Industries Ltd.) and General Secretary of the Indian Primary Copper Association (IPCPA). With nearly two decades of experience in copper and non-ferrous industries, she has built Birla Copper’s Business Development and Policy vertical from the ground up. Ruchi combines deep commercial expertise with strategic leadership—driving customer-centric growth, ecosystem partnerships, and policy advocacy. A BRICS Trailblazer 2022, she plays a pivotal role in shaping India’s copper value chain by engaging with customers, ecosystem partners, and government stakeholders across sectors such as electric mobility, renewable energy, high-speed rail, and metro infrastructure. Her focus on co-creating customised techno-commercial solutions positions Birla Copper as a trusted partner in transformation.

All content reflects the individual views of the speakers. The Centre for Social and Economic Progress (CSEP) does not hold an institutional view on any subject.

Please contact Gurmeet Kaur at GKaur@csep.org for general queries and Ayesha Manocha at AManocha@csep.org for media queries.