India’s coal imports could slide 3 per cent in 2015/16: Piyush Goyal
India could import 3 per cent less coal in the year to next April despite a jump in demand, the coal minister said on Thursday, as local output rises at a record pace in Prime Minister Narendra Modi’s push for power to all.
The world’s third-largest coal importer wants to end its dependence on foreign supplies this decade, mainly for the variety used in power generation, and has set ambitious targets for state-run Coal India. It is also working on opening the nationalised sector to private companies.
If India manages to become self-sufficient in thermal coal, it would be a double blow for exporters Indonesia and Australia, already grappling with depressed demand from top buyer China.