India’s coal imports may decline by 11% to 186 MT in FY’23
India’s coal imports are likely to decline 11.4% to 186 million tonnes (MT) in the current fiscal, even as the state-owned firm has floated import tenders to source the dry fuel from abroad.
Coal India Ltd, which accounts for over 80% of domestic coal production, last week floated tenders for import of coal to build up the fossil fuel stock at government-mandated indigenous power plants.
The country imported 210 metric tonnes of coal in 2021-22.
As per the medium term estimates of Ministry of Coal, in the current financial year the company is expected to import 186 MT of coal, 130 MT is non-coking coal and 56 MT is coking coal.
Non-coking coal is mainly used as thermal coal for power generation.
India is expected to import 172 MT of coal in 2024-25, 173 MT in 2027-28 and 170 MT in 2029-30.
The Coal Ministry said that the country imported 215 MT of coal in FY 2011 and 249 MT in FY 2010.
Coal India last week floated its first tender for import of 2.416 million tonnes of coal and also two international competitive bidding e-tenders for 3 million tonnes to source coal from overseas.
The import tender was floated after the government asked the company to stockpile fossil fuels to avoid a recurrence of power shortages, caused by fuel shortages in April.
Though CIL is at its best in ramping up production to meet the country’s domestic demand, it is a step in a state of readiness to tackle coal supply shortfalls in future, the PSU said.