Chouhan launches 'Khet Bachao Abhiyan' from Raisen, MP (See 'Corp Brief') PMLA - Special Courts under PMLA cannot take cognizance of prosecution complaint without first giving accused opportunity of hearing, as mandated under first proviso to Sec 223(1) of BNSS: SC (See 'Legal Desk') Gadkari reviews quality of NH Projects in West Bengal and AP (See 'Corp Brief') Digital India BHASHINI & DPIIT sign MoU for Multilingual Access Across India's Investment Ecosystem (See 'Corp Brief') NI Act - After adoption of electronic clearance system, cheque return memo or bank endorsement need not bear seal or signature to be acted upon under Sections 138 and 146: HC (See 'Legal Desk') National Workshop on R&D in Water to drive Bharat's Next Wave of Water Innovation (See 'Corp Brief') PM SVANidhi completes Six Years of Empowering Street Vendors (See 'Corp Brief') DCA reviews implementation of Legal Metrology Reforms in N-E and UTs (See 'Corp Brief') Raksha Mantri & UP Chief Minister inaugurate 'Nausena Shaurya Vatika' in Lucknow (See 'Corp Brief') IBC - Offences u/s 68 and 235A of Code can be prosecuted only before competent Special Court in manner prescribed u/s 236 of Code: NCLT (See 'Legal Desk') A Highway bringing New Possibilities to Heart of Central India: Boregaon to Shahpur (See 'Corp Brief') National Biodiversity Authority realises Rs. 21.26 Crore through Benefit Sharing Mechanism (See 'Corp Brief') Ayushman Bharat Digital Mission crosses Landmark Milestone of 90 Crore ABHA Accounts (See 'Corp Brief') SEBI - Assessee's request for inspection of documents cannot be allowed where these form part of SEBI's internal administrative process & are not necessary for replying to SCN: SAT (See 'Legal Desk') Moratorium under the IBC (See CORP EINSICHT)

Print

Reducing Coal Imports, Boosting Exports

Published: Jul 29, 2024

By TIOLCorplaws News Service

NEW DELHI, JULY 29, 2024: THE Ministry of Coal spearheading a transformative initiative to reduce coal imports and promote coal exports, is marking a significant shift in the country's energy landscape. This strategic move aims to enhance domestic coal production, strengthen energy security, and support the growth of the coal sector.

India's coal production witnessed a remarkable increase of 11.65% in the year 2023-24, demonstrating the government's commitment to self-reliance. The target for the year 2024-25 has been set at an ambitious 1,080Million Tonnes, further solidifying India's position as a major coal producer.

To streamline the process of reducing coal imports, an Inter-Ministerial Committee was formed and the committee will facilitate discussions and coordinate efforts among various ministries to identify opportunities for import substitution. While acknowledging the need for some high-grade coal imports, the focus remains on minimizing non-essential imports and promoting the use of domestically produced coal.

In addition to reducing imports, the government is actively promoting coal exports to capitalize on the growing global demand for the fossil fuel. This initiative aims to position India as a key player in the international coal market, generating revenue and creating employment opportunities in the sector.

The reduction in coal imports and the promotion of exports are crucial steps in ensuring India's energy security. By relying more on domestically produced coal, the country can reduce its dependence on foreign sources and insulate itself from global price fluctuations.

The transformation of the coal sector is expected to have a positive impact on the Indian economy. The increased production and export of coal will contribute to economic growth, create jobs, and generate revenue for the government. Additionally, the reduced reliance on imports will help conserve foreign exchange reserves.

According to a study conducted by IIM Ahmedabad, there may exist potential of exporting 15 MT to the following neighboring countries:

Nepal - 2MT

Myanmar - 3MT

Bangladesh - 8 MT

Others - 2 MT

The Maitree Super Thermal Power Project (MSTPP)(2X660 MW) constructed by Bangladesh India Friendship Power Company Ltd (BIFPCL) is a 50:50 JV between NTPC & Bangladesh Power Development Board (BPDB) requires 5 Million Tons coal per annum as per the international pricing policy

Ministry of Coal's initiatives to reduce coal imports and promote coal exports mark a significant milestone in the country's energy transition. By enhancing domestic production, facilitating import substitution, and promoting exports, India aims to achieve self-reliance, strengthen energy security, and support the growth of the coal sector. These efforts are expected to have far-reaching implications for the Indian economy and its position in the global energy landscape.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.