India will overtake China as the largest importer of coking coal by 2025, Fitch Solutions Macro Research said on Friday.
“We forecast India’s coking coal consumption to grow at an annual average rate of 5.4 per cent between 2019 and 2028, driven by an equally robust expansion in steel production in the country,” it said in a report.
“As a result, we expect India to overtake China as the largest importer of global coking coal by 2025, despite the country only importing half as much as China in 2017,” it added.
While China will remain dominant in terms of overall market share, India will become increasingly important in terms of seaborne demand, it said.
