India's Coal Import Decline Saves Billions in Forex

India's coal imports dropped by 8.4% to 183.42 million tonnes from April to December, resulting in foreign exchange savings worth Rs 42,315 crore. Initiatives like commercial coal mining helped reduce imports, with non-regulated sectors seeing a 12.01% decline in coal imports.

India has reported a notable decline in coal imports, dropping by 8.4% to 183.42 million tonnes during the April to December period of the current fiscal year, according to official figures.

This reduction, compared to 200.19 million tonnes in the same period last year, translated into significant foreign exchange savings, estimated to be around Rs 42,315 crore or USD 5.43 billion.

The decrease was more pronounced in the non-regulated sector, excluding power, which witnessed a year-on-year drop of 12.01% in coal imports. Despite a 3.53% rise in coal-based power generation, imports for blending by thermal plants fell by 29.8%, attributed to domestic initiatives boosting coal output.

(With inputs from agencies.)