India has been pursuing decarbonisation and diversification strategies, particularly setting a target for reaching net zero emissions by 2070.

India’s coal sector investment is expected to grow by almost 10 per cent y-o-y to around $15 billion, or roughly Rs.1.25 trillion in the current calendar year as the country prepares to meet demand due to rising electricity consumption and expanding industrial base.

According to the International Energy Agency (IEA), investments in the coal sector by the world’s second-largest producer and consumer has been growing consistently since 2021 with the annual rate of growth in investments expected to double in 2024 compared to 2023.

The agency in its world energy investment report 2024 anticipates that efforts by the world’s third-largest energy consumer to ramp up coal production will fall short of meeting the demand for the critical commodity with reliance on imports increasing.

Aided by an expanding industrial and commercial base, India’s appetite for coal has risen substantially in the past decade