India Saves $6.93 Billion in Forex as Coal Imports Decline
According to the Ministry of Coal, India saved over $6.93 billion (Rs.53,137.82 crore) in foreign money between April 2024 and February 2025 as a result of a dramatic decline in coal imports brought on by increased local output.
During the same period, coal imports decreased by 9.2 percent to 220.3 million tonnes (MT) from 242.6 MT during the same period in the previous fiscal year. India's continuous efforts to become self-sufficient in coal production are reflected in the decline.
In the non-regulated sector, which does not include electricity generation, imports decreased by 15.3 percent annually, making the reduction especially noteworthy. During the April–February period, coal-based power generation increased by 2.87 percent; however, thermal power plants' imports for blending fell by 38.8 percent, indicating a decreased reliance on foreign coal supply.
The Ministry ascribed this change to important policy measures meant to increase domestic output, such as Mission Coking Coal and Commercial Coal Mining. As a result, during the first 11 months of FY25, India's coal output increased by 5.45 percent year over year.
India's energy mix still relies heavily on coal, which powers vital industries like cement, steel, and electricity.
Coking coal and high-grade thermal coal, which are scarce in the nation's local reserves, are still in limited supply, necessitating targeted imports for industries like steel.
In keeping with its larger economic and energy security objectives, the government has been aggressively pursuing strategic measures to close this gap by increasing domestic production and guaranteeing a steady supply.
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The ministry stated that by giving domestic coal production priority, the government hopes to further the goal of "Viksit Bharat" (Developed India) by establishing a robust, self-sufficient energy system that can support sustained economic growth. (Source: IANS)