Coal import growth rate fell below 2.5% in the last decade, the ministry issued a statement giving information
Coal Import: The Ministry of Coal said in a statement that the country is continuing its journey towards self-reliance in energy security with a strategic focus on optimizing domestic coal resources and leveraging innovative technological solutions.
India is moving towards making itself self-reliant when it comes to energy security. This has been shown by the fact that the annual growth in coal imports came down to 2.49 percent in the last decade up to FY 2023-24. "The cumulative annual growth rate of coal import from 2004-05 to 2013-14 was 21.48 percent," the Ministry of Coal said in a statement. The CAGR of coal imports, however, has been 2.49 percent from 2014-15 to 2023-24.
It has been said, "Further, from FY 2004-05 to 2013-14, the CAGR of the share of imported coal was 13.94 percent. Whereas in the last decade, this figure fell to below zero to about 2.29 percent."
It said that the country has commenced the journey to self-sufficient energy security with a clear agenda of exploiting domestic coal resources optimally, based on innovative technologies. This report says that India is the fifth biggest in coal reserves worldwide and consumes this fuel the second most in the world.
