India is the third-largest producer of coal after China and the US
Govt is planning to cut coal imports for power PSUs to zero in the ongoing financial year
The coal ministry has been striving to cut down on the country's coal imports and its related import bill. The coal consuming sectors, however, have shifted to imported petcoke usage, adding up to the country's import bill on the petroleum side.According to data available with the Petroleum Planning and Analysis Cell (PPAC), the country imported 39.8% more of petcoke in the last financial year. This has also made petcoke the largest contributor to the total petroleum products that the country imported in that period."Import of Petroleum, Oil and Lubricants (POL) products increased by 17.0% during March 2017 as compared to March 2016 mainly due to increase in import of LPG. Import of POL products increased by 21.7% during April 2016 - March 2017 as compared to the same period of the previous year (2015-16) with imports of Liquefied petroleum Gas (LPG) and petcoke accounting for 95.0% of total increase of 6.4MMT," according to PPAC.The rise in import of petcoke is largely attributed to .
Demand for coal in India is not rising as per expectation, newly-appointed CEO of mjunction services Vinaya Varma said
On back of firmness in international coal prices since beginning of June and higher availability of domestic coal