The situation created by the increase in coal production in the country and the consequent decrease in imports


- Coal imports cost India around 29 to 30 billion dollars

- Occasional

- Consumers turn to coal as natural gas supply dwindles globally: Shortage of rail-racks at home increases industry jitters

The coal market and industry sector in the country has seen a rapid reversal of trends recently with increasing momentum. In the world market, the price has seen a one-sided fluctuation. Crude oil market plays a key role in various energy markets in the world market. Globally, when crude oil prices go up, coal prices rise in the world market and when crude oil prices fall, global coal prices retreat. have found However, since then, global crude oil prices have rebounded from the bottom. Meanwhile, India's coal production is on the rise and experts predict that such production will increase further in the coming years. In the next 5 to 7 years in the country, there is a possibility of significant growth in domestic coal production. According to world market sources, this year due to the war between Russia-Ukraine, the natural gas supply has been affected in various countries globally and the demand for coal in the form of alternative to natural gas has recently increased in the world market. New opportunities have been created to increase the production of thermal coal at home in India. Experts in this field are saying that if this happens, the import of coal in the country can be reduced and the current account deficit and the falling price of the rupee can also be controlled due to this.

India has spent around 29 to 30 billion dollars in the import of various types of coal in the period of 6 months from April to September this year. Earlier, such imports totaled $30 billion in the full financial year 2021-22. Thus domestic coal import of twelve months has been done in a period of only 6 months! The share of coal import which used to be five percent in the total import of various goods in the country has now increased to around eight percent. In the financial year 2021-22, the import of coal in the country was about 1520 lakh tonnes which was 1970 lakh tonnes of thermal coal in 2020-21. Such coal is mostly used in electricity generation. In India, the amount of crude oil and gas in the underground has been low while the amount of coal has been high. Thapmal coal production in the country has increased by around 15 to 16 per cent between 2019-20 and 2021-22 and such production growth has broken a 10-year record. Coal production in state-owned coal producer Coal India is likely to increase to 780 million tonnes in 2022-23 and the figure is likely to go even higher in the next financial year of 2023-24.

However, despite the increase in domestic coal production, the availability of rail-racks for lifting coal from mines to the consuming industries has not increased as much as compared, sources in the coal consuming industries said. In 2020, there was such a global situation that the countries of the world began to move away from the use of coal in view of the environment, but since then the situation has changed. Coal consumption has increased in the production of metals, cement, power etc. Coal production in private sector mines besides government has increased at home. Private mines have produced 20 lakh tonnes of coal in seven months. Recently 140 to 145 coal mines have been auctioned. Coal has also been sold through e-auction by government coal mines in the country. Around 80 million tonnes of coal is likely to be sold in 2022-23 through e-auction. Meanwhile, imports of imported coal at Paradip Port in West Bengal have witnessed an increase. Such thermal coal is being imported from Australia, Indonesia and South Africa. European countries are turning to coal instead of Russian gas.


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