The coal sector in India has shown impressive growth in recent months, with a 14.8% increase in June 2024 compared to the same period last year, according to the Index of Eight Core Industries released by the Ministry of Commerce and Industries. The sector has consistently outperformed other core industries, fueling overall industrial expansion. This growth can be attributed to a surge in coal production, with output reaching 84.71 million tonnes in June 2024, a 14.6% increase from the previous year. This increase in production highlights the sector’s ability to meet the growing demand for energy and manufacturing industries.
In July 2024, the coal sector continued to excel, with cumulative coal production up to that point recorded at 321.45 million tonnes in FY25, a 9.78% growth compared to the same period in FY24. Total coal dispatch also saw a significant boost in July 2024, reaching 79.54 million tonnes compared to 76.05 million tonnes in July 2023, a growth rate of 4.58%. The cumulative coal dispatch up to July 2024 stood at 341.61 million tonnes in FY25, a 7.92% increase from the corresponding period in FY24.
Moreover, as of July 31, 2024, coal stocks held by coal companies witnessed a notable surge, reaching 86.8 million tonnes. This impressive annual growth rate of 43.85% highlights the sector’s robust performance and efficiency. These statistics underscore the coal sector’s resilience and commitment to meeting the nation’s energy demands, in line with the vision of an Atmanirbhar Bharat.
The Index of Core Industries (ICI) measures the combined and individual production performance of eight core industries, including cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel. The combined index of eight core industries experienced a 4.0% increase in June 2024 compared to the same period the previous year, with the coal sector making a significant contribution to this growth. The cumulative index of the coal industry has increased by 10.8% between April to June in FY25 over the same period in the previous year, further highlighting its strong performance.
This remarkable growth in the coal sector can be attributed to a significant surge in production, demonstrating its capacity to meet the growing energy and manufacturing demands in India. The sector’s performance in the last two years has surpassed that of other core industries, indicating its importance in driving overall industrial expansion. As the sector continues to grow and meet the nation’s energy needs, it is poised to play a crucial role in supporting the vision of an Atmanirbhar Bharat.
In conclusion, the coal sector in India has demonstrated impressive growth in recent months, outperforming other core industries and making a significant contribution to overall industrial expansion. With a surge in production and dispatch, as well as a notable increase in coal stocks, the sector’s performance highlights its resilience and commitment to meeting the nation’s energy demands. As India works towards achieving self-reliance in various sectors, the coal industry’s continued growth is set to play a crucial role in supporting the vision of an Atmanirbhar Bharat.
