India Declares Coking Coal as a Strategic Mineral to Boost Domestic Steel Industry

The Indian government has designated coking coal as a critical and strategic mineral to reduce import dependence and bolster the domestic steel supply chain. This move aims to speed up approvals, enhance business ease, and stimulate exploration, boosting employment and private investment in the sector.

In a significant move to bolster the domestic steel industry, the Indian government has declared coking coal a critical and strategic mineral. This aims to reduce the country's heavy reliance on imports, which currently fulfill 95% of the steel sector's requirements.

Designating coking coal under the Mines and Minerals (Development and Regulation) Act, the government seeks to expedite approvals and promote private investment, thereby accelerating exploration and mining activities. This, in turn, is expected to strengthen the steel supply chain and promote the objectives of the National Steel Policy.

The coal ministry notes that the reform could lead to extensive employment opportunities across mining and logistics sectors. Additionally, the initiative is aligned with India's broader policy goals of becoming self-reliant as part of the Aatmanirbhar Bharat vision.

(With inputs from agencies.)