India to start exporting coal from FY26: Pralhad Joshi
2 min read 29 Mar 2023, 08:59 PM ISTThe minister said that with coal production crossing reaching the 1.5 billion tonne mark, the country would turn into a net exporter of coal in two fiscals
PremiumNEW DELHI : Union minister coal and mines Pralhad Joshi on Tuesday said that India will start exporting coal from FY26 as it would have surplus domestic supplies of the mineral.
Speaking at the launch of the seventh round of commercial coal mine auction, the minister said that with coal production crossing reaching the 1.5 billion tonne mark, the country would turn into a net exporter of coal in two fiscals.
“Except for coking coal, we will stop the import of thermal coal," he told reporters on the sidelines of the event.
On March 23, Mint had reported that India plans to export coal by FY26 with coal production expected to surpass 1 billion tonne.
The statement, however, comes at a time when India is importing coal to ensure adequate power supply during the upcoming summers. In January, union power ministry directed gencos to blend 6% imported coal till September as a deficit of 20 million tonne coal is expected during the year.
“Record coal production has happened at nearly 900 million tonne in FY23, and we have coal stock of 116-117 million tonne at present. I assure the country of uninterrupted coal supply in summers or in rainy seasons," he said.
Speaking at the event, defence minister Rajnath Singh urged the coal sector of the country to further ensure energy security of India to meet the requirements of our fast growing economy.
The ministry of coal launched the process for seventh round of commercial coal mines’ auction with a total of 106 coal blocks on offer. The mines offered are a mix of coal mines under CMSP Act and MMDR Act. Out of 106 coal mines, 101 mines are being put up for auction under 17th and 7th Tranche under CMSP/MMDR Act and five coal mines are being offered under second Attempt of 16th and 6th Tranche under CMSP/MMDR Act.
The mines being auctioned are spread across coal and lignite bearing states of Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Telangana, Rajasthan, Tamil Nadu and Bihar.
The ministry also signed agreements for 29 coal mines which were auctioned under 6th round of commercial coal mines auction. The cumulative peak rated capacity (PRC) of 29 coal mines is 74 million tonne per annum. These mines upon operationalization will generate annual revenue of ₹14,497 crores calculated at PRC of these coal mines and will provide employment to about one lakh people, said a coal ministry statement.
