Magazine : 
India's Coal Production Growth Hits 5.63%, Imports Decelerate to 2.49 Percent
India, possessing the fifth-largest coal reserves in the world and ranking as the second-largest consumer, has experienced significant changes in its coal production and import trends, indicating a strategic move towards boosting energy self-reliance.
Recent data indicates that the compound annual growth rate (CAGR) for coal production in India increased from 4.44 percent during the fiscal years 2004-05 to 2013-14 to approximately 5.63 percent from 2014-15 to 2023-24. This growth reflects the country's dedicated efforts to boost domestic coal output over the past decade.
Simultaneously, the compound annual growth rate (CAGR) for coal imports experienced a substantial decline. It fell from a high of 21.48 percent between 2004-05 and 2013-14 to just 2.49 percent from 2014-15 to 2023-24. Additionally, the share of imported coal in overall consumption also decreased significantly, with the CAGR dropping from 13.94 percent in the earlier period to around -2.29 percent in the latter period.
These trends highlight India's strategic focus on reducing dependence on imported coal, even though imports remain necessary to meet specific industrial needs such as steel production due to the unavailability of coking coal and high-grade thermal coal within domestic reserves.
The shift is part of India's broader aim to optimize its indigenous coal resources and leverage innovative technology to bolster energy security. This approach aligns with the national goal of Atmanirbhar Bharat (self-reliant India), emphasizing the importance of self-sufficiency in critical sectors such as energy. As India advances along this path, reducing import dependency and enhancing domestic coal production capacities are poised to play crucial roles in shaping the country's energy landscape.
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