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Govt plans cut in coal imports in coming years to save forex, create jobs

Coal is among the top five commodities imported by India, the world's largest consumer, importer and producer of the fuel after China

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The blocks offered with generous commercial terms are also aimed at attracting foreign investment to a sector dominated by state-run Coal India Ltd. Photo: Shutterstock.com

Nidhi Verma | Reuters New Delhi

2 min read Last Updated : Aug 25 2020 | 9:27 PM IST

India plans to significantly reduce its thermal coal imports in "the next few years" to save foreign exchange and create jobs through the development of existing and new coal blocks, a senior official in the federal coal ministry said on Tuesday.

Coal is among the top five commodities imported by India, the world's largest consumer, importer and producer of the fuel after China.

India spent 1.58 trillion rupees ($21.28 billion) on importing 247 million tonnes of coal, including 197 million tonnes of thermal grade, in the fiscal year to March 2020, M. Nagaraju, a joint secretary in the coal ministry,

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