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What is the primary reason for the increase in India's reliance on copper imports in recent years?
- a)Decrease in domestic production capabilities
- b)High global demand for copper
- c)Closure of domestic copper mines
- d)Strict government regulations on mining
Correct answer is option 'C'. Can you explain this answer?
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What is the primary reason for the increase in India's reliance on cop...
India's reliance on copper imports has significantly increased due to the closure of domestic copper mines, such as the Sterlite facility, which has directly impacted production levels. Additionally, while global demand for copper is rising, the primary factor for increased imports is the substantial drop in local production, reinforcing the need for India to seek external sources to meet its industrial requirements.
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What is the primary reason for the increase in India's reliance on cop...
Increase in India's Reliance on Copper Imports
India's increasing reliance on copper imports can be primarily attributed to the closure of domestic copper mines, which has significantly impacted local production capabilities.
Reasons for Closure of Domestic Copper Mines
- Environmental Concerns: Many copper mines faced closures due to environmental regulations aimed at reducing pollution and preserving ecological balance.
- Legal and Regulatory Issues: Several mines were shut down following legal disputes and compliance issues with government regulations, leading to a substantial decrease in output.
- Local Protests: Community opposition and protests against mining activities have also played a role in the shutdown of certain operations.
Impact on Domestic Production
- Declining Output: With the closure of mines, domestic copper production has plummeted, leading to an increased gap between demand and supply.
- Rising Demand: The growing demand for copper in various sectors, including construction, electronics, and renewable energy, has further exacerbated the situation.
Consequences of Increased Imports
- Economic Implications: Increased reliance on imports can lead to higher trade deficits and vulnerability to fluctuations in global prices.
- Supply Chain Risks: Dependence on foreign sources may expose India to supply chain disruptions in times of geopolitical tensions or trade disputes.
In conclusion, the closure of domestic copper mines is a critical factor driving India's increased reliance on copper imports, significantly impacting production and economic stability.
India's increasing reliance on copper imports can be primarily attributed to the closure of domestic copper mines, which has significantly impacted local production capabilities.
Reasons for Closure of Domestic Copper Mines
- Environmental Concerns: Many copper mines faced closures due to environmental regulations aimed at reducing pollution and preserving ecological balance.
- Legal and Regulatory Issues: Several mines were shut down following legal disputes and compliance issues with government regulations, leading to a substantial decrease in output.
- Local Protests: Community opposition and protests against mining activities have also played a role in the shutdown of certain operations.
Impact on Domestic Production
- Declining Output: With the closure of mines, domestic copper production has plummeted, leading to an increased gap between demand and supply.
- Rising Demand: The growing demand for copper in various sectors, including construction, electronics, and renewable energy, has further exacerbated the situation.
Consequences of Increased Imports
- Economic Implications: Increased reliance on imports can lead to higher trade deficits and vulnerability to fluctuations in global prices.
- Supply Chain Risks: Dependence on foreign sources may expose India to supply chain disruptions in times of geopolitical tensions or trade disputes.
In conclusion, the closure of domestic copper mines is a critical factor driving India's increased reliance on copper imports, significantly impacting production and economic stability.
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What is the primary reason for the increase in India's reliance on copper imports in recent years?a) Decrease in domestic production capabilitiesb) High global demand for copperc) Closure of domestic copper minesd) Strict government regulations on miningCorrect answer is option 'C'. Can you explain this answer?
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