India's Historic Shift: Domestic Coal Reliance Surges

India's coal imports have significantly decreased, reaching a 7.9% reduction by 2024-25, saving Rs 60,700 Crore. Union Minister Ashwini Vaishnaw detailed the achievement of a record 1.048 billion tonnes of coal production. New policies promote efficient coal allocation and emphasize a strategic domestic reliance.

Union Minister Ashwini Vaishnaw announced on Friday that India's reliance on coal imports is declining, with a notable 7.9% reduction anticipated by 2024-25. This shift results in a foreign exchange saving of approximately Rs 60,700 Crore.

Highlighting the partnership between railways and the coal sector, Vaishnaw noted that 823 million tonnes of coal were transported via rail last year. Domestic power plants now boast record-high coal stocks.

For the first time in 2024-25, India surpassed the landmark of producing 1 billion tonnes of coal annually, recording a total of 1.048 billion tonnes. The minister presented data depicting a decrease in coal imports as a percentage of consumption from 26% in FY15 to just 19.2% in FY25.

The Union Cabinet approved the CoalSETU policy, enabling seamless coal linkage auctions for industry use and export, excluding coking coal.

(With inputs from agencies.)