Home News Reports Copper dependant small scale industries in severe crisis after closure of Sterlite copper plant

Copper dependant small scale industries in severe crisis after closure of Sterlite copper plant

Small-scale industries which are dependent on the supply of copper for their operations are undergoing a severe crisis, following the closure of Sterlite copper plant in Tamil Nadu, Hindu Business Line has reported.

According to the report, about 30 per cent of the workforce employed by electrical and electronic equipment manufacturing units face termination, owing to the shortage of copper. It is believed that Sterlite used to contribute to the supply of about 30 per cent of these industries’ copper demand.

As per Hemanth Mehta, who is the Treasurer of Copper Consumers Association, South India which represents about 75 units employing 20,000 people – they are in a severe crisis due to the plant’s closure as alternative sources of copper are two expensive.

- Ad - - article resumes -

He also claimed that the copper prices too have increased by about 10 per cent following the closure, which is a big amount for small units. Besides this, he also stated that the clients won’t be bearing the increased cost and it isn’t possible to import copper at such a short notice.

These fears have also been echoed by the Winding Wires Manufacturers’ Association of India, whose affiliated units were dependent on Sterlite copper for 50 per cent of their copper requirement.

As per a New Indian Express report, the now-closed Sterlite plant used to cater to about 40 per cent of the nation’s total copper demand.

We had reported that the Chief Executive Officer (CEO) of Sterlite – P. Ramnath estimated that about 30,000 direct and indirect jobs are on the line following the plant’s closure due to violent protests. He also claimed that besides employees, India Economy as a whole would suffer owing to the shutdown as the country’s annual import bill would rise by $2 billion.

As reported by Swarajya, there are already calls made by Tuticorin villagers to reopen the plant who have praised it for supporting their livelihood, and for even helping them to meet their educational and healthcare needs.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

While the date of the recording is not clear, it can be inferred from above conversation that it took place sometime in July.

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

To Advertise on Opindia.com Click here

Barkha Dutt’s strange coincidences with a Kashmiri who wished death upon PM Modi and Amit Shah

Idrees ul Haq, with whom Barkha Dutt had a series of ‘coincidences’ is a known separatist sympathiser

Army veteran Surendra Poonia receives threats from Pakistan, files online complaint with cyber crime portal

Major Poonia shared screenshots of the threats he has been receiving as well as screenshot of message which said how an unknown number had threatened to character assassinate him and malign him.

Deplorable ‘journalists’ further Pakistan propaganda and undermine India: Why should their patriotism not be questioned

Indian 'journalists' and 'intellectuals' have taken up the mantle of peddling the Pakistan narrative on Kashmir it appears.
Shah Faesal was reportedly planning to approach ICJ over India’s decision to abrogate Article 370

IAS-turned-politician Shah Faesal was travelling to file case against India in the ICJ over Kashmir issue: Report

Shah Faesal was nabbed at the New Delhi International Airport on August 14 when he was trying to leave the country, reportedly, to Turkey

Here is why Shobhaa De could be first in a long list to be exposed by Pakistan

India’s stand on abrogation of Article 370 and 35A and dilution of Jammu and Kashmir from a state to a Union Territory has dropped the baby of pretence.

Purported email screenshots of Kavita Krishnan’s team show them discussing use of retired judges and ex-military officers for Kashmir propaganda

Purported screenshots of internal emails of urban naxals are being circulated on social media

After the abrogation of Article 370, Pakistan Minister expresses angst over Rahul Gandhi not winning 2019 elections

After abrogation of Article 370 by the Modi government, Congress and Pakistan seem to have found an ideological soulmate in each other
Shehla Rashid bats for Armed insurgency in Kashmir

Career-protester-turned-politician Shehla Rashid downplays terrorism in Kashmir, calls legitimate action by India ‘state terrorism’ instead

According to Shehla Rashid, India has been inflicting atrocities on Kashmiris since 1953
PM Modi's debut on Man vs Wild becomes most viewed show worldwide with 3.6 billion impressions, leaving Super Bowl behind

PM Modi’s debut on Man vs Wild becomes most trending show worldwide with 3.6 billion impressions, leaving Super Bowl behind

The appearance of PM Modi on Discovery’s ‘Man vs Wild’ show with survivalist and adventurer Bear Grylls has garnered 3.6 billion impressions and counting.
Syed Akbaruddin addressed the media yesterday at the UN, affirmed that any decisions regarding Jammu and Kashmir is India's internal matter and if Pakistan wants any talks with India, it has to stop promoting terrorism first.

We do not need international busybodies to tell us how to run our lives, Pakistan using Jihad to promote violence: Syed Akbaruddin

"India is a vibrant democracy, we do not need international busybodies to tell us how to run our lives", India's ambassador to the UN Syed Akbaruddin.
Subscribe to Day's Top Stories
[newsletter_form type="minimal"]
- Advertisment -

Latest articles

Connect with us

180,671FansLike
170,109FollowersFollow
89,077SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post