The import of copper ores and concentrates to India saw significant fluctuations from 2013 to 2023, peaking at 7.4434 billion USD in 2013 and trending downwards to 2.5886 billion USD in 2023. Over the last two years, imports decreased by 2.54% in 2022 and by another 2.56% in 2023. The overall Compound Annual Growth Rate (CAGR) from 2019 to 2023 was -0.33%, indicating a relatively stable decline.
From 2024 onwards, the import values are forecasted to continue decreasing, with a forecast 5-year CAGR of -2.34%. By 2028, imports are projected to fall to 2.2338 billion USD, reflecting an overall decline of 11.15% over the five-year period.
Future trends to watch for include potential shifts in global copper prices, domestic production capabilities, and changes in government import policies. Economic factors such as currency exchange rates and demand from key industries will also play a crucial role in shaping future import trends.
