India targets higher domestic coal production, reduced imports: Government

India aims to reduce coal imports and boost domestic production, according to federal coal minister Mr. G. Kishan Reddy. The country, the world's second-largest coal consumer, imported 176 million tons of thermal coal in 2023, Reuters reported earlier this year. Imports are expected to remain below 160 million tons in 2024, the vice president of international trade at coal importing firm Agarwal Coal, Mr. Rajat Handa told Reuters in February.

India has increasingly relied on coal to meet rising power demand, anticipating the fastest power generation growth since at least 2011-12. While the country has long defended coal use, Prime Minister Mr. Narendra Modi's administration has slowed the growth of coal-based capacity to focus on India's green energy transition and meet its 2070 net zero emission goals. Despite pressure from wealthy economies to reduce coal use, India plans to set up new coal power plants, with power generation set to begin four years later.

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