The government on Friday said the annual growth in India’s coal imports has declined to just 2.49 per cent in the past decade until FY24 as the country moves towards becoming self-reliant in energy security. The compound annual growth rate (CAGR) of coal imports from 2004-05 to 2013-14 stood significantly at 21.48 per cent. However, the CAGR of coal import from 2014-15 to 2023-24 stood at 2.49 per cent only, the coal ministry said in a statement.
“Moreover, CAGR of imported coal share stood at 13.94 per cent during the period from fiscal year 2004-05 to 2013-14 while the same figure plummeted to around -2.29 per cent” during the last decade, it said.
With strategic focus on optimising indigenous coal resources and leveraging innovative technological solutions, India continues its journey towards self-reliance in energy security of the nation, the statement said.
India, endowed with the fifth-largest coal reserves globally, stands as the second-largest consumer of dry fuel, it added.