India saves $5.43 billion forex as coal imports dip due to rising local production
The reduction in coal imports resulted in foreign exchange savings of approximately $5.43 billion (Rs 42,315.7 crore) for the country, the Coal Ministry said.
In November, the Coal Ministry achieved a remarkable milestone with overall coal production reaching 90.62 million tonnes (MT) (Provisional), marking a 7.20 per cent growth YoY.
In the same month last year, coal production was 84.52 MT.
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Cumulatively, coal production for FY 2024-25 up to November 2024 reached 628.03 MT (Provisional), compared to 591.32 MT during the same period in FY 2023-24, reflecting a growth of 6.21 per cent. (Provisional), data from the Ministry of Coal said.
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Coal production from captive and other entities has shown significant progress, reaching 17.13 MT (provisional) in November 2024, up from 12.44 MT in November 2023, marking an impressive growth of 37.69% per cent (provisional).
Additionally, the coal dispatches in November 2024 showed steady improvement, reaching 85.22 MT (Provisional), up from 82.07 MT in November 2023, reflecting a growth of 3.85per cent.
Dispatches from captive and other entities experienced a sharp increase, rising to 16.58 MT in November 2024 from 13.19 MT in November 2023, marking an impressive growth of 25.73per cent.
Cumulatively, coal dispatches for FY 2024-25 up to November 2024 rose to 657.75 MT (Provisional), compared to 623.78 MT during the same period in the previous fiscal year, recording a growth of 5.45per cent (Provisional).
Recently, the government has released data for growth of eight core sectors saying it grew by 3.1 iper centn October, compared to a 2per cent rise in September.
Among those eight core sectors, coal production increased by 7.8per cent.
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