India: Basic Customs Duty on copper ores, concentrates set to be nil

In the 2024-2025 Budget, India has removed the 2.5% Basic Customs Duty (BCD) on copper ores and concentrates, reducing it to nil. This move aims to support the growing demand for copper in India. In FY’24, India imported a total of 1.02 million tonnes (mnt) of copper concentrates, with ores and concentrates comprising approximately 46% of the overall import volume.