Hyderabad: Union Minister for Coal and Mines G Kishan Reddy said that ever since the government led by Prime Minister Narendra Modi came to power in 2014, several reforms have been implemented across various sectors, including the coal industry.

Addressing the media on the development of the coal sector in the country on Friday in the national capital, he said that the Ministry of Coal is celebrating its golden jubilee this year and is recognised as the world’s largest coal producer. Coal plays a significant role in various industries, including power generation, steel, cement, aluminium, fertilizer, and heavy industries. It generates 74 per cent of India’s electricity. It is expected to remain a key energy source for decades to come.

“In the 2023-24 fiscal year, coal production reached 998 million tonnes, a significant increase from only 609 million tonnes produced in 2014,” he said. Further, the increase in private sector participation has fostered competition, leading to many positive changes. So far, 10 rounds of transparent auctions have been completed, resulting in the auctioning of 184 coal blocks, with arrangements underway for the 12th auction.

The Coal Rationalisation Scheme has been implemented to reduce coal transportation costs for power generation companies, resulting in savings of about Rs. 7,000 crore.

Kishan Reddy said that in line with the Prime Minister’s directives, coal imports have significantly decreased over recent months, saving about Rs 30,000 crore in foreign exchange. Specifically, imports of coking coal, essential for the steel sector, have dropped by approximately 1.7 per cent. To address this, coal washers have been developed.

Worker and employee safety remains a priority, and the use of drones for mining surveys and topographical analysis has increased. While the overall accident rate in coal mines reduced by 50 per cent, serious accidents were down by 80 per cent, he added.

India aims for 100 million tonnes of coal gasification by 2030, which will aid in reducing carbon emissions and promoting cleaner coal technology, the Union Minister affirmed.