India is rich in mineral resources and is one of the world's
leading producers of coal and other minerals such as iron ore, bauxite, zinc,
lead, silver, copper etc. Coal is the most important and abundant fossil fuel
in India and India is the second largest producer and consumer of coal across
the globe after China. Coal, as primary commercial energy fuel, has been
sustaining the country's energy requirements for decades now and would continue
to retain its relevance for the few more decades as well. With around 48%
share, coal occupies the major space in India's energy basket.
Through sustained programme of investment and greater thrust
on application of modern technologies, the all India coal production is on a
steady uptrend. It rose from 893.19 million MT in 2022-23 to 997.83 million MT
in 2023-24 and during 2024-25 is expected to cross 1000 million MT @ a CAGR of
around 11%.
As per the present Import policy, coal can be freely
imported (under Open General Licence) by the consumers themselves considering
their needs based on their commercial consideration. The Non-Regulated
Sector (excluding power sector) saw a more substantial decline, with imports
dropping by 8.8% year-on-year. The Ministry of Coal continues to implement
a range of strategic measures to boost domestic production and ensure a stable
coal supply. These efforts aim not only to reduce India’s dependence on coal imports
but also to fortify the country’s energy security. By focusing on increasing
domestic output, the Government is working towards a more self-sufficient and
sustainable energy landscape for India.
As India is heading towards a minimum carbon State through
green initiatives, Coal PSUs are making constant and sincere efforts to
minimize the footprints of coal mining through sustained reclamation and
afforestation activities in various mines as per well-designed and approved and
calibrated mine closure plans. Around many mines, cutting-edge methods like
Miyawaki plantation, seed ball plantation, and drone-assisted seed casting are
being used. The development of green belts and afforestation initiatives help
to reduce air pollution by capturing suspended dust particles released during
mining operations.
The Indian Chamber of Commerce (ICC) plays a significant
role in the coal sector by acting as a bridge between the government, coal
producers, and other stakeholders in the industry. It works on various fronts
like Policy Advocacy, Industry Representation and Promoting Sustainable
Practices through events, Facilitating Collaboration through B2B to promote the
growth, development, and modernization of the coal industry.
The major flagship initiatives taken up by Indian Chamber of
Commerce in this sector are:
1) India Mineral & Metal Forum
2) India Coal Summit
The above initiatives provide an appropriate
platform to the stakeholders and acts as a catalyst between the Government and
Industry to create a conducive business environment. The committee actively
works on important policy recommendation for the sector adding value and growth
for the sectoral development.
