India’s Coal Imports Fall 8.4% In April-December, Saving Rs 42,315 Crore in Forex

India's coal imports declined by 8.4% to 183.42 million tonnes during April to December 2024, as domestic production ramped up to meet rising demand. This reduction helped the country save approximately Rs 42,315 crore ($5.43 billion) in foreign exchange, according to a statement from the coal ministry.

During the same nine-month period in the previous financial year, coal imports stood higher at 200.19 MT.

The drop in imports was more pronounced in sectors other than power, with the non-regulated sector—which includes industries like cement, sponge iron, and steel—witnessing a sharper decline of 12.01% year-on-year.

Interestingly, while coal-based electricity generation rose by 3.53% during April-December 2024 compared to the year-ago period, imports meant for blending by thermal power plants fell sharply by nearly 30%.

The ministry attributed this import cutback to several policy measures aimed at boosting local coal output. Initiatives such as commercial coal mining, expanded coal block auctions, and the ongoing Mission Coking Coal have been key in strengthening domestic supply.

These steps have also translated into higher production, with total coal output rising by 6.11% in the April-December period compared to the same stretch in 2023-24.

(With text inputs from PTI.)