India's 2018 thermal coal imports grew at fastest pace in 4 years: Report

Coal is among the top 5 commodities imported by India, one of the world's largest consumers of coal, and the rise in imports of the fuel after 2 consecutive years of decline adds to its trade deficit

India's 2018 thermal coal imports rose at the fastest pace in four years, according to two industry sources, despite moves by Prime Minister Narendra Modi's government to cut imports in a bid to reduce its trade deficit.

Coal is among the top five commodities imported by India, one of the world's largest consumers of coal, and the rise in imports of the fuel after two consecutive years of decline adds to its trade deficit.

That trade gap has been hurting the valuation of the rupee, the worst performing major Asian currency in 2018.

Thermal coal imports jumped 19 percent to 171.85 million tonnes