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Print[Ferro-Alloys.com] India's imports of thermal coal this year are set to rise to 100 million tonnes from around 90 million in 2011, despite a sluggish revival of post-monsoon spot buying and a slowing economy, suppliers and end-users said.
“India is likely to take over 20 million tonnes from South Africa this year, the monthly imports have been steady, and overall, 100 million tonnes imports in total looks achievable,” one producer said.
The shortfall between India's domestic coal supply and coal demand will be around 192 million tonnes in the fiscal year to March 2013, according to the coal ministry. Coal fuels 66 percent of India's thermal power and the country aims to add 88,000 MW in the five years to March 2017.
Years of policy inertia has hit investments, slowed economic growth to a near three-year low and put India's investment-grade credit rating in peril. The slowdown has bottomed out but a full recovery requires tough decisions, Finance Minister P. Chidambaram said last week.
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