Reducing coal imports, boosting domestic production key focus: Union Minister G Kishan Reddy
The government aims to cut coal imports and increase local production to strengthen energy security and economic growth.
Key Highlights:
Coal’s Role: India, the world's 2nd-largest coal consumer, relies on coal for 55% of its energy mix, with 74% of power generation dependent on thermal plants.
Declining Imports: Coal imports fell 5.35% (April-Nov 2024), saving $3.91B. Imports for power plant blending dropped 23.56%.
Record Production: India’s coal output hit 997.82 MT in FY 2023-24, up from 609.18 MT in 2014-15 (CAGR 5.64%).
Future Targets: ‘Mission Coking Coal’ aims for 140 MT domestic coking coal by 2029-30 to reduce steel sector imports.
Mine Expansion: 184 mines allotted, with 136.59 MT output (+34.2% YoY). Expected to exceed 170 MT in FY 2024-25.
Economic Impact: Coal contributes 50% of Indian Railways’ freight revenue and employs 4.78 lakh people.
With strong growth, the coal sector remains vital to India's industrial and energy landscape.
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