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Coal Ministry Outlines Strategy for Import Reduction, Export Growth
The Business Guardian
|July 30, 2024
In a significant shift in the country’s energy landscape, the Ministry of Coal is leading a transformative initiative aimed at reducing coal imports and promoting coal exports.
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This effort seeks to enhance domestic coal production, strengthen energy security, and support the growth of the coal sector.
According to a press release by the Ministry of Coal, India’s coal production witnessed a notable increase of 11.65% in the fiscal year 2023-24, underscoring the government’s commitment to achieving self-reliance. The production target for 2024-25 has been ambitiously set at 1,080 million tonnes, further solidifying India’s position as a leading coal producer.
To streamline the reduction of coal imports, an inter-ministerial committee has been established. This committee is responsible for facilitating discussions and coordinating efforts among various ministries to identify opportunities for import substitution. While the need for certain high-grade coal imports is acknowledged, the primary focus remains on minimizing non-essential imports and promoting the utilization of domestically produced coal.
This story is from the July 30, 2024 edition of The Business Guardian.
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