India cuts coal imports by over 9% in FY25, saving USD 6.93 billion in forex
New Delhi [India], May 14 (ANI): India's coal imports witnessed a sharp decline of 9.2 per cent during the April 2024 to February 2025 period, totaling 220.3 million tonnes (MT), down from 242.6 MT in the same period the previous fiscal year.
This significant reduction translated into foreign exchange savings of approximately USD 6.93 billion (RS 53,137.82 crore), signaling a major stride toward energy self-reliance, the the Coal Ministry said.
According to the Ministry, the drop was most pronounced in the Non-Regulated Sector, where imports fell by 15.3 per cent year-on-year.
Notably, even as coal-based power generation rose by 2.87 per cent, imports for blending by thermal power plants plunged by nearly 39 per cent, underscoring the country's concerted push to curb its dependence on imported coal.
The Government of India has implemented several initiatives, including Commercial Coal Mining and Mission Coking Coal, to enhance domestic coal production and reduce imports. These efforts have also led to an encouraging 5.45 per cent growth in coal output during the April 2024 to February 2025 period compared to the same period of FY 2023-24.
India's coal sector plays a pivotal role in supporting its rapidly growing economy, with coal serving as a primary energy source for critical industries like power, steel, cement etc.
However, the country faces a significant challenge in meeting its domestic coal demand, especially for coking coal and high-grade thermal coal, which are in short supply within the country's reserves. As a result, coal imports have been vital to meet the needs of key sectors, including steel.
The Ministry of Coal has been implementing strategic measures to strengthen domestic production and ensure a secure coal supply, aligning with India's goals of reducing coal imports and enhancing energy security.
By prioritizing domestic coal output, the government aims to march ahead towards Viksit Bharat goal by building a self-reliant, sustainable energy framework that supports long-term economic growth, the Coal Ministry added. (ANI)
(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)
