Coal imports for blending purposes decreased to 9.79 MT compared to last year which was 10.70 MT indicating a decline of 8.5 per cent during the same period, the Ministry of Coal said in a release on Tuesday.
This decline underscores India's steadfast commitment to achieving self-sufficiency in coal production and reducing reliance on imports, the ministry said.
Coal imports during April to August period of FY 2024-25 experienced a marginal increase of 2.2 per cent, reaching 111.20 million tonnes (MT) compared to 108.81 MT in the previous year. However, the non-regulated sector saw a significant decline of 10.3 per cent, during Apr-Aug'24 as compared to the same period of last year.
The coal-based power generation witnessed 4.97 per cent growth from April 2024 to September 2024 compared to the same period last year.
Moreover, coal production during the April-September 2024 period demonstrated a commendable increase, reaching 453 MT compared to 428.21 MT in the same period of FY 2023-24, marking a growth of 5.79 per cent. This upward trend reflects the government's ongoing efforts to streamline coal usage and enhance domestic production.
However, in value terms, the price of overall imported coal during April to August 2024-25 is Rs. 120,532.21 crore, whereas the price of overall imported coal during the corresponding period last year (2023-24) was Rs. 133,461.65 crore These results in a saving of Rs 12,929.44 crore, which is a saving of approximately 9.69 per cent in value terms compared to last year.
India, endowed with the fifth-largest coal reserves in the world, stands as the second-largest consumer of coal, driven by a rapidly growing economy. However, the current consumption landscape reveals a critical need for imports, particularly for coking coal and high-grade thermal coal, which are not sufficiently available within domestic reserves. This shortfall necessitates imports to support key industries, including steel. (ANI)
