Reduction in coal import saves around ₹42,315 cr of foreign exchange

India's coal import dropped by 8.4 per cent to 183.42 million tonnes in the April-December period of the current fiscal, resulting in foreign exchange savings of around Rs 42,315 crore.

The country's coal import was 200.19 MT in the corresponding period of the previous fiscal.

"Coal imports...during April to December 2024 fell by 8.4 per cent, totalling 183.42 million tonnes (MT), compared to 200.19 MT in the same period of the previous fiscal year. This reduction resulted in foreign exchange savings of approximately USD 5.43 billion (Rs 42,315 crore)," the coal ministry said in a statement.

The non-regulated sector, excluding the power sector, experienced a more significant decline, with imports dropping by 12.01 per cent year-on-year.

Although coal-based power generation grew by 3.53 per cent from April to December 2024 over the previous year, imports for blending by thermal power plants decreased by 29.8 per cent.

The government has implemented several initiatives, including commercial coal mining and Mission Coking Coal, to enhance domestic coal production and reduce imports.

These efforts have also led to a 6.11 per cent growth in coal output during the April-December period from the same period of 2023-24.