New Delhi: India will overtake China in terms of coal imports. India can achieve this by 2025. According to a report, between 2019 and 2028, coal consumption in India will grow at an annualized rate of 5.4 percent. This is due to an equally strong expansion in steel production in the country. The report states that 'India's coal imports were half that of China in 2017. Despite this, we hope that India will overtake China as the world's largest coal importer by 2025.
However, China will remain at the top in terms of overall market share, while India's importance in terms of imports is increasing rapidly. Indicators suggest that India is the largest importer of Australian coal. In the second quarter of 2019, India imported 25.8 percent more coal from Australia on an annual basis.
China's imports fell by 8.8 percent during this period. Despite this, China remained the second-largest importer. Due to the slowdown in the Chinese economy, production activities are declining there. Hence there is a decrease in coal consumption. It will continue to account for about two-thirds of global coal production and consumption in the coming years. The government has recently approved 100 percent foreign investment in coal mining.
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