Scindia releases commemorative Postage Stamp in Memory of Sant Malukdas Ji (See 'Corp Brief') Khadse reviews sports ecosystem in Mizoram; visits SAI Aizawl (See 'Corp Brief') NTPC WR-I Hqs gears up to host Mumbai Regional Round of NTPC Electron Quiz (See 'Corp Brief') Competition Act - Regulatory decisions taken in exercise of statutory powers not subject to review by CCI; authority concerned is not amenable to scrutiny u/s 4 of Competition Act: CCI (See 'Legal Desk') Conventional to Smart Mining: Technology Transformation of Coal India Ltd (See 'Corp Brief') NSTFDC joins hands with HPCL for Computer Lab-cum-Smart Classroom in 29 Eklavya Schools (See 'Corp Brief') Repair before Replace, Reuse before Discard, Recover before Waste, says Yadav (See 'Corp Brief') SEBI - Penalty order under SEBI (PFUTP) Regulations unsustainable where foundational findings regarding volume of manually deleted orders & manipulative intent are perverse & contrary to the record: SAT (See 'Legal Desk') Varuna Elevated Corridor: Balancing Heritage, Mobility and Growth in Varanasi (See 'Corp Brief') Commercial Coal Mine Auctions: Powering Aatmanirbhar Bharat Through Transparency (See 'Corp Brief') Capital Market - Release of escrow amount maintained for buyback does not bar separate inquiry into alleged fraud under PFUTP Regulations: SC (See 'Legal Desk') Postal Employee Organisations hail the Government for 'reinventing' India Post (See 'Corp Brief') DFS wins First Prize under 'Rajbhasha Kirti' for 2025-26 (See 'Corp Brief') IBC - Where a plausible dispute requiring further investigation exists & the defence is not patently feeble, a petition u/s 9 cannot be admitted: NCLT (See 'Legal Desk') India world's largest Vaccine producer and global supplier by volume: MoS (See 'Corp Brief') Mizoram's Railway Lifeline completes One Year of Success (See 'Corp Brief') PBPT - Transfer of funds by beneficial owner to purchase properties in names of relatives without demonstrable loan agreements or independent source of income is classic benami transaction under the Act: SAFEMA Tribunal (See 'Legal Desk') Expanding coal production and infrastructure while widening opportunities in Central India (See 'Corp Brief') Cochin Shipyard Ltd and Drydocks World Form JV To strengthen India's Ship Repair Industry (See 'Corp Brief') FEMA - Financial difficulties do not excuse non-compliance with mandatory FEMA requirements - Funds received via FDI cannot be utilised or diverted for purposes other than those for which they were received: SAFEMA Tribunal (See 'Legal Desk') Next Subscription Economy may arrive with Telecos monthly bills (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
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.