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India's coal imports for blending by power plants slumped 40.66% on the year from 28.78 million tonnes to 17.08 million tonnes in the first nine months of the fiscal year 2023-24 (April-December 2023) despite the country's escalating power demand, as stated by the Ministry of Coal.
During the period, India witnessed a 7.14% year-on-year increase in power generation from domestic coal, reaching 872 TWh compared to 813.9 TWh in the previous fiscal.
This reflects the country's efforts to reduce overall coal imports and meet the growing energy demand by ramping up domestic coal production, according to the coal ministry.
While power generation in India is derived from both conventional (thermal, nuclear and hydro) and renewable sources (wind, solar, biomass etc.), coal remains the dominant source, accounting for over 70% of the total electricity generated.
During April-December, India's coal-based power generation increased approximately 10.13% from a year ago, outpacing the overall power generation growth of 6.71%, as reported in the official statement.
Coal-fired power generation plays a vital role in meeting India's energy demands, fueled by industrial growth, technological advancements, population growth and economic development, while the rise in domestic coal production has buoyed the government's confidence in achieving self-sufficiency.
Coal minister Pralhad Joshi said India will halt thermal coal imports in the next financial year, as domestic production is expected to surpass a billion tonnes.
Despite the country's increased focus on renewable energy capacity, the decline in coal imports alongside rising generation underscores the importance of domestic coal production.
Power minister R K Singh had in November 2023 said India would need to add 30 GW of new coal-fired capacity to meet future electricity demand, which is projected to reach a peak of 256 GW in 2024-25 by the Central Electricity Authority.
(Writing by Riley Liang Editing by Emma Yang)
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