Hyderabad: Union Minister for Coal and Mines G. Kishan Reddy congratulated all the all state governments, coal companies, workers, local communities, scientists, researchers, private companies, and industrialists who played a vital role in achieving the target of one billion tonnes in coal production.

Addressing the auction of the 12th Coal Block held in the national capital on Thursday, he said, "This year marks the 50th year of the Coal India 175th year of the Geological Survey of India. The achievement of coal production is possible due to the excellent policies implemented over the last ten years and the collective efforts of everyone involved. The coal sector, once known for corruption and scams, is evolving to become modern, transparent, and innovative under the leadership of Prime Minister Narendra Modi.

Since the auction process was introduced in 2015, the landscape of this sector has transformed with the involvement of private companies and the integration of new technology. "To date, 125 coal blocks have been successfully auctioned in 11 phases, with participation from the private sector. This auction process is expected to generate a total investment of Rs 40,960 crores and create direct and indirect employment opportunities for approximately 400,000 people."

On Thursday, the minister said 28 coal and lignite blocks were auctioned as part of the 12th tranche. He said it would reduce coal imports, save foreign exchange, and truly embody the spirit of a self-reliant India. The minister said that the coal sector is revitalizing job creation and freight transport while likely increasing national income. Public sector undertakings are now competing with private sector companies through the auction process, which enhances the efficiency of public sector units and helps them to compete globally.

Kishan Reddy said that despite challenges during the Maha Kumbh Mela, the coal sector has consistently worked to supply coal nationwide and meet the power needs of all sectors. Currently, coal accounts for 72 per cent of the power requirements of the manufacturing and steel industries across the country. "We are committed to producing coal in alignment with sustainable goals while minimizing environmental impact."

He recalled the continued efforts and said a visionary roadmap was laid out in the Union Budget 2025 for the mineral and coal sector. To foster business opportunities, encourage innovation, and support startups, "we have introduced several reforms in the mining and coal sector. We have also established a single-window clearance system for timely approvals, a project monitoring unit for mine owners, and a star rating system for mines."

Additionally, initiatives were made for the coal gasification program with a target of producing 100 million tonnes by 2030. It introduced an incentive scheme of Rs 8,000 crores to promote coal and lignite gasification projects. "We are embracing new policies and utilizing emerging technologies to conduct sustainable mining operations. Due to the reforms implemented over the past decade, five companies that participated for the first time in the auction process have successfully acquired mines. However, these companies must commence mining operations promptly. The Central Government is committed to supporting a swift mining process. For this, the ministry is collaborating with state governments to ensure a smooth and efficient approval process. He urged the private companies to step forward, recognizing that investing in coal mines means investing in India's energy future, economic growth, industrial development, and job creation.