India’s coal import has declined by 34.9 per cent to 12.46 million tonnes on account of subdued demand for fuel from consuming sectors like power and cement.
The country imported 19.14 MT of coal in August last year, based on monitoring of vessels’ positions and data received from shipping companies.
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The first five months of current fiscal saw 32.51 per cent decline in coal import which was 108.29 million tonnes during the year-ago period.
Although it has been seen a modest recovery in coal-consuming sectors such as power and cement, coal continues to be ample and so the import demand subdued. If we see it by the current trend, coal imports may hatch a noticeable decline this year.
Coal India, which accounts for over 80 per cent of domestic coal output, mandated by the government to replace at least 100 million tonnes of imports with domestically-produced coal in the ongoing fiscal.
To enhance and boost coal demand, the government has announced a slew of measures like increased supply for linkage consumers.
The Centre also announced several relief measures for CIL consumers, including the power sector.
The country imported 247.1million tonnes of coal in 2019-20, about five per cent higher than 235.35 Million tonnes imported in the previous year.