India's coal imports may drop by 11% to 186 MT in FY23

Tags: Economy/Finance

India's coal import is likely to decline by 11.4% to 186 million tonnes (MT) in the current financial year. 

  • India imported 210 MT of coal in 2021-22.

  • According to the Coal Ministry, in the current financial year, the company is expected to import 186 MT of coal of which 130 MT is non-coking coal and 56 MT is coking coal.

  • Non-coking coal is aboundently used as thermal coal for power generation.

  • India imported 215 MT of coal in FY'21 and 249 MT of coal in FY'20.

  • India will import 172 MT of coal in 2024-25, 173 MT in 2027-28 and 170 MT in 2029-30.

  • Coal India last week floated its first tender for import of 2.416 million tonnes of coal and also floated two international competitive bidding e-tenders for 3 million tonnes.

  • Coal India Limited (CIL)

  • It is an Indian government’s owned coal mining and refining corporation. 

  • It is owned by the Ministry of Coal, Government of India.

  • It was established in November 1975

  • Headquartered - Kolkata, West Bengal

  • Coal India is the largest producer of coal in the world.

  • It contributes around 82% to the total coal production in India. 

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