Advertisements
Home Investing in Forex India Cuts Coal Imports by 7.9 Percent, Saves $7.9 Billion Forex

India Cuts Coal Imports by 7.9 Percent, Saves $7.9 Billion Forex

by Barbara

New Delhi, May 27 (UNI) – India’s coal imports dropped significantly by 7.9% during the financial year 2024-25, falling to 243.62 million tonnes (MT) from 264.53 MT in the previous year, according to the Ministry of Coal. This decline helped the country save an estimated $7.93 billion (₹60,681.67 crore) in foreign exchange.

The Non-Regulated Sector (NRS), which excludes the power sector, saw an even sharper fall in coal imports by 8.95%, showing a broad reduction in reliance on imported coal. Despite this, coal-based power generation rose by 3.04% in FY25, reflecting growing dependence on domestic coal.

Advertisements

Imports for blending by thermal power plants plunged 41.4%, highlighting efforts to replace imported coal with local supplies. The Ministry credited this import decline to government initiatives such as Commercial Coal Mining and Mission Coking Coal, which boosted domestic coal production by 5% during the year.

Advertisements

Coal remains vital to India’s energy mix, powering core industries like electricity, steel, and cement. However, the country still imports limited quantities of high-grade thermal coal and coking coal, mainly for the steel sector, due to domestic shortages.

Advertisements

The Ministry emphasized that these measures support India’s goal of building a self-reliant and sustainable energy framework under the “Viksit Bharat” vision. Strategic steps are underway to increase domestic coal output and secure long-term energy availability.

Advertisements
Advertisements

READ MORE:

Advertisements

You may also like

Rckir is a comprehensive financial portal. The main columns include foreign exchange wealth management, futures wealth management, gold wealth management, stock wealth management, fund wealth management, insurance wealth management, trust wealth management, wealth management knowledge, etc.

【Contact us: [email protected]

© 2023 Copyright Rckir.com [[email protected]]