State-owned Coal India Ltd (CIL) raised output by 8.5% in 2015-16 to 536 million tonnes, which helped bring down imports by 34 million tonnes. Export of coal will help as far as our trade deficit in energy is concerned,” coal secretary Anil Swarup said. While the quantum of exports is yet to be finalized, two to three million tonnes a year will make a good beginning, he added. In 2015-16, India’s net import of oil stood at 170 million tonnes, which cost $82.6 billion, as per official data. Though coal is in surplus, India is heavily import-dependent on the other two primary sources of energy—crude oil and natural gas.

Source: Mint August 01, 2016 08:37 UTC