India's coal imports may see further dip on self-sufficiency, renewable energy push: Fitch

The global rating agency has said India's dependency on imported coal may continue to decline as the government moves ahead on the path of self- sufficiency and as renewable energy output continues.

Published: 27th November 2017 01:47 PM  |   Last Updated: 27th November 2017 03:16 PM   |  A+A-

Workers unload coal from a supply truck at a yard on the outskirts of the western Indian city of Ahmedabad. (File photo | Reuters)


NEW DELHI: Global rating agency Fitch has said India's dependency on imported coal may continue to decline as the government moves ahead on the path of self-sufficiency.

"We expect India’s thermal coal imports to continue to fall as the government maintains its push for self-sufficiency and as renewable energy output increases," the global rating agency said.

"This is amid lower-than-expected demand because of reduced offtake from financially stressed power distribution companies and subdued industrial performance," Fitch Ratings said.

In September, the import went up temporarily as generators stocked up the fossil fuel ahead of winter, it said.

Coal import for October came in flat at 16.65 million tonnes, underpinned by cautious buying by consumers due to high prices in the overseas market, according to the data from mjunction services, a leading name in the e-auction space.

The figure for October 2016 was 16.68 million tonnes (mt).

Import of coal declined 6.37 per cent to 191.95 mt in 2016-17, mainly because of higher production by Coal India Ltd (CIL). CIL accounts for over 80 per cent of the domestic coal production. 

More from Business.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp