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India's Coal Import Sees 3.1% Decline During Apr-Oct 2024

India's coal imports during the April-October period of the financial year 2024-25 witnessed a major decrease of 3.1 per cent, reaching 149.39 million tonne (MT) compared to 154.17 MT in the corresponding period of last year, the Coal Ministry stated on Thursday.

Additionally, the ministry added that the state non-regulated sector (other than power) witnessed a more significant drop of 8.8 per cent during April-October 2024 as compared to the same period of last year. Pointing out the growth in coal-based power generation, the ministry stated that although there was a significant growth of 3.87 per cent in coal-based power generation from April 2024 to October 2024 compared to the same period last year, imports for blending purposes by thermal power plants decreased substantially by 19.5 per cent during the same period.

"India, despite possessing the fifth-largest coal reserves globally, faces a significant shortfall in certain coal types, particularly coking coal and high-grade thermal coal, which are not adequately available from domestic sources. This gap in supply necessitates coal imports to sustain key industries, including steel production, and to meet the growing energy demand," the Coal Ministry added in a release.

Moreover, coal production during the April-October 2024 period demonstrated an increase, reaching 537.57 MT compared to 506.93 MT in the same period of FY 2023-24, marking a growth of 6.04 per cent. This upward trend reflects the government's ongoing efforts to streamline coal usage and enhance domestic production, the ministry added.

The Ministry of Coal continues to implement strategic initiatives aimed at bolstering coal production and improving availability. These efforts are not only focused on safeguarding foreign reserves but also on enhancing the nation's energy security. The proactive measures taken by the government to increase domestic coal output will ultimately reduce dependence on imports and contribute to the overall sustainability of India's energy landscape, the coal ministry stated. (ANI)