India's Coal Imports may Decline by 20.91 million tonnes in FY 2024-25: Union Minister

New Delhi (The Uttam Hindu): India's coal imports in the financial year 2024-25 have been 20.91 million tonnes less than the previous financial year. This will help the country save foreign exchange worth Rs 60,681.67 crore. This information was given in Parliament by Union Coal and Mines Minister G. Kishan Reddy.

In a written reply to a question in the Rajya Sabha, the Union Minister informed that a total of 243.62 million tonnes (MT) of coal was imported in the country during 2024-25, as against 264.53 million tonnes in 2023-24.

He said that most of the coal requirement in the country is met through indigenous production. The Ministry of Coal has set an ambitious domestic coal production target of about 1.5 billion tonnes by FY 2029-30. The government is focused on increasing domestic production of coal and reducing imports of non-essential coal.

The Ministry of Coal had also launched the Coal Logistics Scheme and Policy in February 2024 with the objective of developing infrastructure to facilitate coal mining in the country, keeping in view the projected increase in coal production by FY 2029-30.

To reduce dependence on imported coal and boost domestic production, the government has eased the allocation of coal blocks, encouraged private sector participation, and streamlined the process of obtaining necessary approvals for coal mining projects.

Further, the Union Minister informed that emphasis is being laid on increasing the coal production by Government coal companies by adopting modern technologies like First Mile Connectivity (FMC) and digitalization.

According to the Union Minister, an Inter-Ministerial Committee (IMC) has been constituted to encourage domestic coal consumption and replacement of foreign coal imports.

IMC, through its various meetings, has identified imported coal based (ICB) plants where domestic coal can be supplied.