Union Minister for Coal and Mines, G. Kishan Reddy, spoke about the progress in the coal sector since Prime Minister Narendra Modi’s government came to power in 2014. He highlighted that several reforms have been introduced to improve the industry.
Speaking at a media briefing in the national capital, Reddy mentioned that the Ministry of Coal is celebrating its golden jubilee this year. India is now the world’s largest coal producer, and coal is crucial for industries like power generation, steel, cement, aluminium, and fertilizers. Currently, 74% of India’s electricity comes from coal, and it is expected to remain a key energy source for the foreseeable future.
He shared that in the 2023-24 financial year, coal production reached 998 million tonnes, a significant increase from 609 million tonnes in 2014. Private sector participation has also increased, leading to more competition and improvements in the industry. So far, 10 rounds of transparent auctions have been completed, with 184 coal blocks auctioned. The 12th auction is also in progress.
To reduce costs, the Coal Rationalisation Scheme was introduced, helping power companies save about ₹7,000 crore on coal transportation. Additionally, coal imports have decreased, saving around ₹30,000 crore in foreign exchange. Imports of coking coal, which is essential for the steel industry, have also reduced by approximately 1.7%. To further improve coal quality, coal washers have been developed.
Reddy emphasized that worker safety is a priority. The use of drones for mining surveys and land analysis has increased, helping to improve safety measures. The overall accident rate in coal mines has dropped by 50%, while serious accidents have decreased by 80%.
Looking ahead, India aims to achieve 100 million tonnes of coal gasification by 2030. This initiative will help reduce carbon emissions and promote cleaner coal technologies, ensuring a more sustainable future for the industry.
