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India rejoices in legendary landmark in coal production
(MENAFN) India has achieved a record-breaking coal production of 1 billion tons in the fiscal year ending March 31, Mines Minister G. Kishan Reddy announced. As one of the world’s largest coal consumers, India depends heavily on the resource for power generation, with coal-based electricity accounting for 74% of the country’s total output. Coal also makes up around 55% of India's overall energy mix.
With 997.83 million tons extracted in the 2023-24 fiscal year, India joins China as one of only two nations producing over 1 billion tons of coal annually. Minister Reddy praised the milestone, stating that it would help meet the country’s rising power demands, drive economic growth, and support a sustainable mining approach.
Prime Minister Narendra Modi hailed the achievement as a “proud moment for India,” reaffirming the government’s focus on energy security, economic growth, and self-reliance.
The surge in domestic coal production has also reduced reliance on imports, with foreign coal purchases dropping by 8.4% between April and December 2024. This decline resulted in an estimated $5.43 billion in foreign exchange savings compared to the same period the previous year.
Under its Coal Action Plan, India has set a production target of 1.08 billion tons for the current fiscal year. While coal imports continue to meet peak summer demand, the government aims for self-sufficiency by 2026 through increased domestic output and renewable energy expansion.
India’s economy, which grew at an average of 6.5% annually in the two decades before the COVID-19 pandemic, recorded 6.4% growth in 2024-25 and 8.2% the previous year. The Reserve Bank of India projects 6.7% growth for the upcoming fiscal year, driven by industrial expansion and rising household consumption.
With 997.83 million tons extracted in the 2023-24 fiscal year, India joins China as one of only two nations producing over 1 billion tons of coal annually. Minister Reddy praised the milestone, stating that it would help meet the country’s rising power demands, drive economic growth, and support a sustainable mining approach.
Prime Minister Narendra Modi hailed the achievement as a “proud moment for India,” reaffirming the government’s focus on energy security, economic growth, and self-reliance.
The surge in domestic coal production has also reduced reliance on imports, with foreign coal purchases dropping by 8.4% between April and December 2024. This decline resulted in an estimated $5.43 billion in foreign exchange savings compared to the same period the previous year.
Under its Coal Action Plan, India has set a production target of 1.08 billion tons for the current fiscal year. While coal imports continue to meet peak summer demand, the government aims for self-sufficiency by 2026 through increased domestic output and renewable energy expansion.
India’s economy, which grew at an average of 6.5% annually in the two decades before the COVID-19 pandemic, recorded 6.4% growth in 2024-25 and 8.2% the previous year. The Reserve Bank of India projects 6.7% growth for the upcoming fiscal year, driven by industrial expansion and rising household consumption.
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