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Decline in coal imports may continue due to domestic production push: Fitch

Coal import for October came in flat at 16.65 million tonnes, underpinned by cautious buying by consumers

Press Trust of India  |  New Delhi 

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Global rating agency has said India's dependency on imported may continue to decline as the government moves ahead on the path of self-sufficiency.

"We expect India's thermal imports to continue to fall as the government maintains its push for self-sufficiency and as output increases," the global rating agency said.


"This is amid lower-than-expected demand because of reduced offtake from financially stressed power distribution companies and subdued industrial performance," Ratings said.

In September, the import went up temporarily as generators stocked up the ahead of winter, it said.

import for October came in flat at 16.65 million tonnes, underpinned by cautious buying by consumers due to high prices in the overseas market, according to the data from mjunction services, a leading name in the e-auction space.

The figure for October 2016 was 16.68 million tonnes (mt).

Import of declined 6.37 per cent to 191.95 mt in 2016-17, mainly because of higher production by India Ltd (CIL). CIL accounts for over 80 per cent of the domestic production.

First Published: Mon, November 27 2017. 15:05 IST
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