Ramped-up Coal India output saves Rs 25,900 crore in forex

Coal demand expected to remain high

Increased coal production by Coal India in the past three years has substituted coal imports significantly with local produce, resulting in foreign-exchange savings worth Rs 25,900 crore.

At the company’s 43rd annual general meeting, interim chairman Gopal Singh said imports accounted for 25 per cent of the total coal supply in 2015-16, and 23 per cent in 2016-17.

“Energy accounts for around a quarter of the total value of imports in India, making it imperative for the government to fulfil energy needs of the country independently in a sustainable manner,” he said, adding, “coal production has increased substantially in the last three