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.
