The green copper proposal: A new model for climate & community responsible mining

The green copper proposal: A new model for climate & community responsible mining


A view of the Sterlite Plant in Thoothukudi, which was shut down in 2018.
| Photo Credit:
RAJESH N

As Thoothukudi continues to grapple with the economic aftershocks of the Sterlite Copper plant’s closure in 2018, the Sterlite Action Council has launched a large-scale signature campaign across the district, formally expressing public support for the reopening of the facility under Sterlite’s proposed Green Copper framework.

The campaign, led by an action group comprising local workers, transporters, fisherfolk, traders, and small business owners, aims to petition the Tamil Nadu and Central governments, the Chief Minister, and other key stakeholders. Their demand is unequivocal: reopen the plant, but under a reimagined model that places environmental responsibility, public trust, and community welfare at its core.

For many residents, the shutdown did not merely halt an industrial operation but it also dismantled an entire local economic ecosystem. Before 2018, the plant supported around 4,000 direct jobs and nearly 20,000 indirect livelihoods, sustaining contractors, truck drivers, logistics operators, vendors, and service providers across the region. S. Eswaran, State President of the Tamil Nadu Hindu Traders Association, pointed to the scale of the disruption, estimating that up to one lakh people were affected. While acknowledging earlier allegations of pollution and water misuse, he argued that claims of health impacts were “amplified through coordinated campaigns,” and that the region’s recovery now hinges on reopening the plant with firm, enforceable guarantees for community welfare.

Deeper issue

Six years after the closure, the loss of the plant’s economic engine is still being felt across Thoothukudi, with supporters describing the signature campaign as a grassroots response to prolonged job losses rather than corporate advocacy. S. Murugan, Joint Secretary of the Tuticorin District Lorry Association, highlighted the severe financial distress faced by transporters after the shutdown. “Public fears triggered the protests, but the deeper issue was broken communication and unmet commitments,” he said, adding that any reopening must be tied to binding CSR obligations, local hiring, and infrastructure investment.

The campaign has gathered momentum with the Madras High Court hearing to consider matters related to Vedanta’s proposed Green Copper plant in Thoothukudi. For many residents, the hearing represents a potential path toward reconciling environmental sustainability with responsible industrial development. Community and industry representatives argue that the moment calls for a structured, transparent evaluation rather than a return to polarised debate. Robert Villavarayar, a leader from the Tuticorin fishermen community, said reopening must be accompanied by a comprehensive support package for coastal communities. “We advocate for reopening based on three pillars: securing livelihoods through periodic fishing kits, ensuring well-being through access to education and healthcare, and providing direct financial aid for community development,” he said.

At the heart of the campaign is Sterlite’s Green Copper proposal, which supporters describe as a fundamental redesign of how copper is produced. The plan centres on a cleaner production process that prioritises recycled copper and energy-efficient technologies, significantly reducing emissions, waste, and overall resource consumption. It also envisioned the permanent shutdown of high-impact legacy units, eliminating gypsum waste accumulation, excessive logistics movement, and water stress. Air quality safeguards form another key pillar, with advanced emission-control systems designed to achieve globally benchmarked sulphur capture and ultra-low stack emissions. Water use is restructured through water-positive operations that rely on desalination and treated wastewater, ensure complete recycling of process water, and allow surplus water to be shared locally. To address concerns of transparency and accountability, the proposal includes community oversight through a local governance committee responsible for health monitoring and continuous engagement with residents. Supporters say the restart would also generate diversified, skilled employment across manufacturing, recycling, logistics, MSMEs, and services not only in Thoothukudi, but across Tamil Nadu.

Supporters say the framework reflects lessons learned from the past and reframes the debate beyond a binary of jobs versus the environment. As the signature campaign builds and with the court hearing, the Green Copper proposal has come to represent, for many in Thoothukudi, a test of whether India can pursue industrial revival without repeating old mistakes—anchoring economic recovery in climate responsibility, accountability, and local consent in a future increasingly defined by environmental limits.

(The author is a PhD Research Scholar from BITS Pilani.)

Published on February 8, 2026



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आंखों के सामने ताश के पत्तों की तरह ढह गए Amazon के शेयर, निवेशकों को किस बात का सता रहा डर?

आंखों के सामने ताश के पत्तों की तरह ढह गए Amazon के शेयर, निवेशकों को किस बात का सता रहा डर?


डिस्क्लेमर: (यहां मुहैया जानकारी सिर्फ़ सूचना हेतु दी जा रही है. यहां बताना जरूरी है कि मार्केट में निवेश बाजार जोखिमों के अधीन है. निवेशक के तौर पर पैसा लगाने से पहले हमेशा एक्सपर्ट से सलाह लें. ABPLive.com की तरफ से किसी को भी पैसा लगाने की यहां कभी भी सलाह नहीं दी जाती है.)

हो जाएं अलर्ट: देश के बजट के लगभग AI पर खर्च कर रहीं 4 चार बड़ी टेक कंपनियां, अब आगे क्या? 



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SBI’s wealth management service AUM to grow to ₹15 lakh crore by 2030: Chairman Setty

SBI’s wealth management service AUM to grow to ₹15 lakh crore by 2030: Chairman Setty


State Bank of India (SBI) Chairman Challa Sreenivasulu Setty

State Bank of India (SBI) is expecting the assets under management (AUM) of its wealth management business to grow almost five times to ₹15 lakh crore by 2030 from ₹2.83 lakh crore as at March-end 2025 in the wake of increasing financialisation of savings.

Challa Sreenivasulu Setty, Chairman, SBI, noted that the bank’s wealth management service, which currently has an AUM of about ₹4 lakh crore, has two components — a deposit component, comprising fixed deposits and CASA (current account, savings account) and an investment component.

The chief of India’s largest bank had said earlier that the investment component in the overall AUM of SBI Wealth was very low. It was mainly deposit-driven.

“We are seeing an uptick both on the deposit side as well as on the investment side,” he said. Out of the ₹15 lakh crore AUM that the wealth management service expects to build, about ₹4 lakh crore will be from the investment side.

SBI offers dedicated wealth management service to affluent customers through deposits and investment products such as mutual funds, insurance, portfolio management service, bonds and Alternative Investment Funds, aligned with individual risk profiles.

The business is backed by 1,068 Relationship Managers and a tiered Relationship Manager structure, per the bank’s latest annual report.

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Published on February 7, 2026



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US tariff reset puts India in pole position in global textile trade

US tariff reset puts India in pole position in global textile trade


The agreement creates immense opportunities across the entire textiles value chain and is expected to generate substantial employment, particularly for the women and MSMEs
| Photo Credit:
AMIT DAVE

The US interim framework is a great moment for the textile industry, said A Sakthivel, Chairman, Apparel Export Promotion Council (AEPC). “This decade will undoubtedly usher in a golden era for the Indian textile and apparel sector,” he added.

A similar sentiment was expressed by other industry officials.

With an 18 per cent tariff, India will have a competitive edge over major exporting nations such as China (35 per cent), Vietnam (20 per cent), Bangladesh (20 per cent) and Indonesia (19 per cent).

The coming decade is poised to be India’s decade in textile trade, as the country emerges as one of the most preferred sourcing destinations for global buyers, said Sakthivel.

The agreement represents a historic milestone for India’s textiles and apparel sector. It creates immense opportunities across the entire textiles value chain and is expected to generate substantial employment, particularly for the women and MSMEs. Farmers in rural India will also benefit significantly, reinforcing inclusive and sustainable growth.

The tariff eliminations and enhanced market access arising from this agreement will greatly strengthen the global competitiveness of the Indian textiles and apparel sector, firmly establishing India as the most reliable and trusted sourcing hub worldwide.

This will also address the issue of non-tariff barriers to trade and reduce the compliance burden and procedural delays leading to the faster movement of goods to the US market, he said.

The main beneficiaries will be Indian exports of textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home décor and artisanal products, and certain categories of machinery, said Global Trade Research Initiative.

“The earlier 50 per cent US tariff on Indian goods was the biggest pain point for the Indian textile and apparel sector, which counts the United States as its single-biggest overseas market. With that gone, India’s textile and apparel exports can once again compete effectively in the US, as at 18 per cent we will now also enjoy a slight tariff advantage over our nearest competitors, Vietnam and Bangladesh,” CITI Chairman Ashwin Chandran said.

“This highly positive development is a huge boost for India’s aim of textiles and apparel exports worth $100 billion by 2030,” he added.

The CITI Chairman said the industry body is awaiting more clarity on cotton. There is great complementarity between the US and India on cotton. India’s exports of textiles and apparel are primarily driven by cotton, he added.

The removal of import duty on cotton of all varieties will reduce the divergence between domestic and global prices and help restore the competitiveness of India’s spinning and textile industries. Such a step would also ensure that the minimum support price (MSP) and other farmer-support mechanisms can function as intended without creating significant downstream price distortions. During the current cotton season, the MSP of ‘Kapas’ has increased by nearly 8 per cent, he said.

Coming quickly on the back of the India – EU FTA and with 20 plus other trade agreements with large economies/ trading blocks, this puts India in the pole position in the race to China +1 opportunity in global supply chains, said Nitin Jain, CEO and Director, Kotak Mahindra Asset Mahindra Singapore.

Published on February 7, 2026



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SBI Q3 PAT up 24% on strong loan growth, stable asset quality

SBI Q3 PAT up 24% on strong loan growth, stable asset quality


Country’s largest lender State Bank of India (SBI) on Saturday reported 24 per cent year-on-year (y-o-y) rise in Q3FY26 net profit at ₹21,028 crore, led by strong loan growth and stable asset quality.

SBI’s net interest income (NII) grew 9 per cent on year to ₹45,190 crore, while net interest margin stood at 2.99 per cent, up 2 basis points (bps) on quarter, and is expected to rise above 3 per cent in next quarter, said Chairman CS Setty.

The bank received a special dividend of ₹2,200 crore from its subsidiary SBI MF, and it intends to complete IPO process of the company before 2026 end, Setty said.

Core business

SBI’s gross advances grew 15 per cent y-o-y to ₹46.83 lakh crore in Q3, and the lender raised credit growth guidance for FY26 to 14-15 per cent from 12-13 per cent earlier. SBI has seen strong growth across retail, agriculture and MSME loans and has ₹7.9 lakh of corporate loans in pipeline.

Deposits rose 9 per cent y-o-y to ₹57.01 lakh crore, and share of low-cost deposits was stable at 39 per cent. Setty said due to intense competition to mobilise deposits among banks, room to cut deposit rates is low.

Stable asset quality

SBI’s fresh slippages stood at ₹4,458 crore in Q3, lower than ₹4,754 crore in Q2. Recoveries improved to ₹2,371 crore in Q3 and the bank expects ₹8,000 crore of recoveries in FY26.

Credit cost declined 4 basis points (bps) on quarter to 0.39 per cent in Q3. Loan loss provisions stood at ₹3,216 crore in Q3, lower than ₹4,132 crore a quarter ago.

Overall, the bank’s gross and net non-performing asset ratio fell 50 bps and 14 bps y-o-y to 1.57 per cent and 0.39 per cent in Q3, respectively. ENDS

Published on February 7, 2026



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India–US Trade Deal: Agriculture Imports के बाद भी, Farmers की Safety बनी रहेगी | Paisa Live

India–US Trade Deal: Agriculture Imports के बाद भी, Farmers की Safety बनी रहेगी | Paisa Live


India और US के बीच announce हुए interim trade deal framework के तहत India ने कुछ selected agricultural products पर import duty कम या zero करने पर agreement दिया है। इस list में DDGS, soybean oil, nuts, fruits, wine-spirits जैसे products शामिल हैं। Data दिखाता है कि deal से पहले भी US agriculture imports तेज़ी से बढ़ रहे थे। 2024 में US ने India को करीब $2.4 billion का export किया, जबकि India ने US को $6.2 billion से ज्यादा का export किया। Soybean oil पर अभी crude में करीब 27.5% और refined में 36% duty लगती है। US का share limited है, इसलिए impact भी सीमित माना जा रहा है।          



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