India's coal production has seen a notable increase, rising by 8.55 percent to reach 223.36 million tonnes during the April-June quarter of the fiscal year 2023-24, according to the Ministry of Coal on Friday, July 21. In comparison, coal production was recorded at 205.76 million tonnes (MT) during the same period in FY 2022-23.

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A significant portion of this growth can be attributed to Coal India Limited (CIL), which achieved an impressive production figure of 175.48 MT between April and June 2023, indicating a remarkable growth rate of 9.85 percent compared to the corresponding period of the previous year, where production stood at 159.75 MT. The remaining coal production came from other captive mines.

While coal imports saw a substantial increase of 16.76 percent in April-May 2023 compared to the same period in the previous year, it is crucial to acknowledge that this surge is primarily due to the significant decline in coal import prices during the first quarter of FY24. Import prices for coal have plummeted by over 60 percent when compared to the year-ago period.

At present, there is an ample stock of coal available in the country, amounting to 107.15 MT (67 MT with coal companies, 33.61 MT with thermal power plants (TPPs), and 6.54 MT at private washeries/good shed siding/ports) as of the end of June 23. This indicates a remarkable growth of 37.62 percent compared to the same period last year, showcasing the efforts and commitment of the coal industry to meet the growing energy demands of the nation.