Large coal-importing nations, including India, will look to ramp up the output of domestic coal to strengthen energy security and lessen dependence on the import of fossil fuels, Moody’s Investors Service said on Tuesday.
The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the country’s power utilities and build up buffer stock.
“Large coal-importing countries such as China and India will also seek to ramp up domestic coal production to enhance energy security and reduce reliance on coal imports. Chinese coal production surged 15 per cent in March 2022,” Moody’s Investors Service said.
