India’s coal imports experienced a significant rise
of 5.7% in the first quarter of the current fiscal year, reaching 75.26 million
tonnes compared to 71.16 million tonnes in the same period last year. This
increase reflects a broader trend observed in June, where coal imports were up
by 6.59%, totalling 22.97 million tonnes versus 21.55 million tonnes in June of
the previous year. In June 2024, non-coking coal imports were particularly
notable, with a total of 14.19 million tonnes, up from 13.29 million tonnes the
previous year. Coking coal imports also saw a modest increase, reaching 5.45
million tonnes compared to 5.33 million tonnes in June 2023. For the April-June
2024 period, non-coking coal imports rose to 49.12 million tonnes, up from
46.53 million tonnes during the same timeframe in the previous fiscal year.
Coking coal imports also increased slightly to 15.45 million tonnes from 15.20
million tonnes in the corresponding period last year. Overall, coal imports for
the fiscal year 2024 (FY24) surged by 7.7% to 268.24 million tonnes, compared
to 249.06 million tonnes in FY23. This increase was driven by softer seaborne
coal prices and an expected rise in power demand during the summer months. In
response to the growing import numbers, Coal Minister G. Kishan Reddy has
advocated for a boost in domestic coal production to reduce reliance on
imports. This effort aligns with a notable increase in domestic production,
which rose by 11.71% to 997.828 million tonnes in the fiscal year 2023-24, up
from 893.191 million tonnes the previous year. This increase in domestic
production aims to mitigate the impact of international market fluctuations and
support India's energy needs more effectively.

