The imports of coal to India for fiscal 2018 - 2019, has gone up by 8.8 per cent to touch 233.56 million tonnes (MT), according to a report.
The country imported coal to the tune of 214.61 MT during 2017 - 2018, as per the provisional data by mjunction services. Mjunction is a joint venture between Tata Steel and SAIL. It is a business to business e-commerce company which publishes research reports on coal and steel verticals.
The report stated that "India's coal and coke imports during 2018-19 through 31 major and non-major ports are estimated to have increased by 8.83 per cent to 233.56 million tonnes (MT) (provisional) as compared to 214.61 MT (revised) imported in 2017-18".
Vinaya Varma, MD and CEO of mjunction stated that "The double-digit growth in thermal coal imports during 2018-19 was on expected lines and caused by the coal shortage at power plants until recently. In contrast, the bearish trend in steel consumption and prices, especially during the fourth quarter, restricted coking coal import".
Coking coal import stood flat at 47.73 MT as against 47.22 MT during 2017 - 18. Non-coking coal imports were seen at 164.21 MT in FY 2018-19, up by 13.25 per cent up over 144.99 MT in FY 2017-18.
The government of India has set a target of 1 billion tonnes of coal production during 2019-20 for the state-run Coal India but is considering relaxing the timeline.