India eyes complete self-sufficiency in thermal coal production by 2026: Minister
Minister Joshi underscored the nation’s substantial growth in coal production, rising from 500 million tonnes in 2014 to become the world’s leading coal producer and importer.
PremiumNew Delhi:India is advancing steadily towards total self-sufficiency in thermal coal production by 2025-26, Union Minister of Coal and Mines and Parliamentary Affairs, Pralhad Joshi said on Monday.
Speaking at the inauguration of the 1st Mining Startup Summit at IIT Bombay in Mumbai, Joshi underscored the nation’s substantial growth in coal production, rising from 500 million tonnes in 2014 to become the world’s leading coal producer and importer. India now boasts the fourth largest coal reserves globally and has achieved a production of 850 million tonnes this year.
Reflecting on the significant strides taken in the coal sector in the last nine years, the minister emphasized the government’s transformative efforts. He said, “A lot has changed in these nine years. Stability and ability have added respectability to India."
The summit was an incubator for 82 startups, drawing 140 participants. Joshi highlighted the critical role of innovation in reducing import dependence, cutting surging costs, and mitigating foreign expenditure.
Pointing to the sustainable and optimal mining technology’s significance, Joshi identified startups as vital partners to this cause. He praised the government’s commitment to industry and businesses, focusing on the objective to channel revenue generated from this support to benefit society’s economically weaker sections.
Joshi encouraged public sector undertakings (PSUs) to invest in products from startups, promoting innovation and partnership.
The summit aimed to bolster interactions between startups and the ministry of mines. The forum promotes conversations on how startups, armed with diverse technologies, can enhance exploration and mining activities, bolstering sector efficiency and capabilities. The event also offers a stage for engagement with top mineral exploration industries, financial institutions, and banks.
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