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.

- Advertisement - - 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.

Share and Support:
Support OpIndia by paying for content

Most read articles recently

Activist opposing Akshaya Patra’s mid-day meal contract thinks ‘Brahmins obstruct India’s development’

The Akshaya Patra has come under criticism recently for not including onion and garlic in its mid-day meals for school children.

Congress friendly journalist wishes death upon BJP Delhi spokesperson Tajinder Bagga

During the run-up to Gujarat assembly elections last year, Trivedi was caught spreading morphed images with Amit Shah's fake quotes on Patidars

BJP has lost the digital and social media edge, but it is not too late to recover

Talented supporters are BJP's key asset. If things start moving now BJP will be able to recover the edge lost by 'IT cell'. The time to act is now.
Modi government vindicated, SC says Rafale Deal clean

SC verdict on Rafale deal: Read scathing comments made by Court while dismissing petitions for inquiry

Supreme Court dismissed petitions for an enquiry into Rafale deal pricing, offset partner selection and procurement procedure. Read scathing observations

Mumbai Police teaches a lesson in humility to ‘special’ Sonam Kapoor

Actor Dulquer Salman clarified that he and Sonam were sitting inside a car that was rigged to a truck and hence were not breaking traffic rules.

For all his angst against Adani, Rahul Gandhi chose Kamal Nath who rallied behind Adani for power plant in Chhindwara

Kamal Nath is believed to be close to Gautam Adani, whom Rahul Gandhi has frequently accused of being a 'crony capitalist'

Pro-Congress troll resumes fake news website, makes outlandish claims on Rafale targeting Modi

Abhishek Mishra has been associated with the website which spreads fake news and Islamist propaganda

Double whammy for Congress in court: After Rafale verdict, Rakesh Asthana’s appointment as special director gets SC approval

The Supreme Court's verdict is being seen as the second major embarrassment for both the Congress party and Prashant Bhushan, as the Supreme Court had earlier rejected a plea on the issue of a probe concerning the Rafale deal.

‘Will not develop areas which did not vote for me’: Rajasthan Congress MLA shortly after winning

Rajender Singh Bidhuri fought and won a close battle against BJP MLA Suresh Dhakad with a margin of 1661 votes.

Uttar Pradesh: Eight cattle smugglers arrested in Bahraich with arms and ammunition

The smugglers even tried to trample the police personnel with their vehicle.

Latest articles

Connect with us

125,679FansLike
97,985FollowersFollow
6,121SubscribersSubscribe

Don't miss these