India's Coal Imports Decline: A Step Towards Energy Self-Reliance

India's annual growth in coal imports has dropped to 2.49% over the past decade. Previously, the CAGR was at 21.48%. The focus on using indigenous coal and technological advancements is steering India towards energy self-reliance, with the country having the fifth-largest coal reserves globally.

In a statement released on Friday, the government announced that India's annual growth rate in coal imports has significantly decreased to 2.49% over the past decade up to FY24. This shift highlights the country's commitment to achieving energy self-reliance.

The compound annual growth rate (CAGR) of coal imports between 2004-05 and 2013-14 was notably higher at 21.48%. However, from 2014-15 to 2023-24, the CAGR dipped dramatically to 2.49%, according to the Coal Ministry.

Moreover, the share of imported coal saw a CAGR of 13.94% from fiscal year 2004-05 to 2013-14, plummeting to around -2.29% in the last decade. The government emphasized India's strategic focus on optimizing local coal resources and leveraging innovative technological solutions as key drivers of this change.

With the fifth-largest coal reserves globally and standing as the second-largest consumer of coal, India's journey towards self-reliance in energy security is clearly progressing, the statement added.

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