India Saves Over $10 Billion in Forex as Domestic Coal Production Rises, Lowers Imports

• Imported coal share in India's consumption dropped to 19.3% in Apr-Dec 2022 from 21% in same period previous year, saving Rs 82,264 crore in forex • Decline due to rising domestic coal production from govt reforms and incentives since 2014 • Coal production CAGR rose from -2.7% in 2004-14 period to 22.5% in 2014-24 period • Cumulative coal production in 2023-24 fiscal topped 803 million tonnes till Feb 6, 2023, 12% higher than same period last year • Captive and commercial coal mines production expanded 26% to over 125 million tonnes in Apr 2022-Feb 2023 period