PM launches coal auction for commercial mining, calls for self-reliability in energy sector

New Delhi (NVI): Prime Minister Narendra Modi today launched the auction of 41 coal mines for commercial mining, saying that the decision will take the coal sector in the country out of “decades of lockdown”.

The Prime Minister said this is a major step in making India self-reliant in the energy sector. Stating that India needs to be the world’s biggest coal exporter, the Prime Minister said: “For decades, the country’s coal sector was kept entangled in the web of Captive and Non-captive. It was kept out of competition, there was a big problem of transparency.”

The PM said that after 2014, a lot of steps were taken to change this situation. “When nobody could think of coal linkage, we made it happen. Such actions also gave strength to the coal sector,” he said.

“Now India has taken a major decision to open Coal and Mining sector completely for Competition, Capital, Participation and Technology,” he said.

PM Modi said that India has the fourth-largest Coal Reserve in the world and is the second-biggest producer of coal.

The PM said that self-reliance is not possible without a strong mining and mineral sector. “Because Minerals and Mining and Important Pillars of our Economy. After these reforms, now Coal Production and Coal Sector will also become self-reliant in a way,” he added.

The PM further stated that when we increase coal production, then it leads to power generation, which has a positive impact on the production and processing of Steel, Aluminum, Fertiliser, Cement, and other such sectors.

He also assured that the launch of today’s auction for commercial coal mining is a “win-win situation” for all stakeholders. Industries and individuals will now get new resources, new markets for their business and investment, he added.

“While making coal reforms, it has also been taken care of that India’s commitment to environment protection doesn’t weaken. Better and modern technology will be available now to make Gas from Coal. Steps like coal gasification will also enable the protection of the environment now,” PM Modi said in his address.

“We have set a target for gasification of 100 million tonnes of Coal by 2030,” the PM said adding, he has been told that four projects have been identified for this and an investment of around Rs 20,000 crores will be made for that.