Centre tells states to step up coal imports for three years: Report
NEW DELHI (Reuters) -India has urged its states to step up coal imports for the next three years to build up inventories and satisfy demand, four sources told Reuters, a move set to benefit global prices of the fuel, already running high because of war in Ukraine.
The decision to boost imports underscores the severity of India’s fuel crisis as coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is seen rising at the fastest pace in nearly four decades.
India, the world’s second-largest coal importer, could drive up global demand until 2025, as Power Minister R K Singh has set a longer timeline for a federal push to increase imports that had until now been seen as a temporary measure.
