India aims to phase out coal imports completely, starting from brining it down to 2% in the next financial year and totally weaning off by FY2025-26, as an important move towards realizing energy self-reliance, according to coal minister Prahlad Joshi.

Launching the ninth round of commercial coal mine auction, Joshi highlighted the government's efforts in reducing the country's coal imports, from 26% in FY2019-20 to 21% in the current fiscal.

"India is expected to be surplus in coal production by the fiscal year 2025-26 except for some high-quality coal and coking coal required for steel sector and imported coal-based power plants," Joshi noted.

India's power demand is forecast to surge to 355 GW in FY 2029-30 from the current 240 GW, according to Central Electricity Authority (CEA), and coal-fired power generation accounted for 72% of the country's electricity generation.

Joshi said the need for enhanced coal output was in line with the country's escalating power demands.

(Writing by Rebecca Liu  Editing by Emma Yang)
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