Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
coal mining
Economy

Coal mining in India has increased by more than 22% in 5 years

12.09.2023
2 min read

Coal mining remains one of India’s most important industries

According to official statistics, India’s coal mining has increased by 22.6% in 5 years. In the fiscal year 2022-2023, it reached more than 893 million tonnes. This growth has been driven by many government policies aimed at developing the industry. The authorities want to reduce the country’s dependence on supplies from other countries. As of 2023, the state-owned company CIL produced 703.2 million tons of coal more than in 2018-2019 MY. This represents an increase of almost 16% in five years.
The coal industry is a priority for India. The product is in demand in many sectors, including as a raw material for thermal power plants. The country has about 1,303 mines that produce various minerals, including fuel and metals. India is one of the world’s top three coal producers, meeting domestic demand and supplying other countries. Experts predict that coal will continue to be the main energy source for industrial and domestic use until 2040.
According to the ministry plans, India will have ten coking coal mines in operation by 2025. These mines will be operated by private companies that have acquired them through auctions. The mines will have an estimated cumulative maximum capacity of around 22.5 million tonnes annually. Launching the new companies will contribute to the objectives of the coal industry.domestic coal mining

CIL production expansion

It is planned that by 2030 the production of this type of raw material should increase to 140 million tons. These targets will also be supported by the expansion of production by CIL, which accounts for 80% of the country’s coal production. The state-owned company intends to open nine coking mines with a total capacity of around 22 million tonnes. However, the company has not yet announced a commissioning date for the new mines. India is also actively building industrial plants. The institute planning and developing the mines is carrying out a geological analysis of the coal deposits.
CIL plans to produce around 3.45 million tonnes of coal in the 2022-2023 financial year. This compares with 1.7 million tonnes in the previous period.
Indian producers are concerned that the price of imported coking coal is lower than that of domestic coal. As a result, they are asking the authorities to impose a 30% duty on imports, which would act as an anti-dumping regulator. This would allow the local coal industry to develop, including commercial companies.

Tags: Economy
0
Previous Post Yoshisuke Aikawa: a biography of a prominent businessman Next Post Japan's Rakuten intends to raise funds by issuing shares

You Might Also Like

slowdown in inflation in Germany
Economy
Germany and other countries recorded a slowdown in inflation
03.02.2023
airline bankruptcy 2019
Economy
Airline bankruptcy 2019-2020: what to expect further from the segment
15.08.2020
Latvia
Economy
How Latvia’s economy will develop in the near future
24.09.2021
business climate in Germany
Economy
The business climate in Germany and around the world has good prospects
13.07.2023
S&P 500 index
Economy
What will happen to the S&P 500 index in the next 12 months: analysts’ forecast
23.11.2022
African economy
Economy
The African economy is suffering from new cases of COVID-19
12.05.2021

Popular Posts

  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics