New Delhi, Jan 14 (Blitz India Business) India’s imports of high-quality coal declined by 3.1 per cent in the first seven months (April-October) of FY 2024-25 to 149.39 million tonnes (MT), compared to 154.17 MT during the same period in the previous year, due to the increase in domestic production, the Ministry of Coal said on Tuesday.
The Non-Regulated Sector (excluding the power sector) saw a more substantial decline, with imports dropping by 8.8 per cent year-on-year.
India has the fifth-largest coal reserves globally and domestic coal production plays a key role in supporting its rapidly growing economy. However, the country faces a significant gap in meeting its coal demand for coking coal required for steel production and high-grade thermal coal for firing power plants.
Despite a growth of 3.87 per cent in coal-based power generation from April 2024 to October 2024 compared to the same period last year, coal imports for blending by thermal power plants saw a sharp decrease of 19.5 per cent as domestic production has gone up. This reflects a greater degree of self-sufficiency in coal production and reduces dependence on imports, the statement said.
The increase in coal imports for the power sector, particularly from imported coal-based power plants (designed to use only imported coal), was notable, rising by 38.4 per cent to 30.04 MT, up from 21.71 MT in the previous year, the statement said.
On the production side, coal output saw a positive growth of 6.04 per cent, rising to 537.57 MT in the April-October 2024 period, up from 506.93 MT in the same period of FY 2023-24. This growth highlights the government’s concerted efforts to enhance coal production and optimise its usage within the country, the statement added.
The government’s efforts are focusing on increasing domestic output to attain a self-sufficient and sustainable energy landscape for India, the statement added.