Following the auction of coal mines India needs to continue on its path to renewable energy. The time is ripe for policy makers to start preparing for a coal phase-down and a transition from the country’s coal mining districts.
The Modi government’s decision to offer 38 coal blocks to the private sector is another step towards the Prime Minister’s vision of self-reliance. It will raise domestic output, cut imports, save forex and introduce eco-friendly methods of mining in a traditionally polluting industry.
The Indian government’s decision to relinquish its monopoly over commercial coal mining will spur the entry of private companies and foreign investors into the industry. Among the host of measures Indian Finance Minister Nirmala Sitharaman recently announced to revive the Covid-hit Indian economy, the most far reaching, was the reiteration on ending the monopoly of the government over commercial coal mining. Related stories: Government allocation for the fisheries sector boosts economic fundamentals Nirmala Sitharaman’s 5-part package could be a 1991 [...]
Resource-poor but demand-rich Indian companies are prospecting and mining natural resources such as coal, oil & gas and other minerals at locations as far apart as Indonesia, Africa, Australia and the US to feed their factories back home. Here’s a trivia question: Which Indian company has a presence, in one form or another, in Audi, BMW, Porsche, Mercedes Benz, Ford, Ferrari, Jaguar and Hyundai cars? Don’t let the presence of Jaguar on that list fool you. The answer is not [...]