(PRLEAP.COM) RNCOS Research: (
http://www.rncos.com/Report/IM0371.htm) Fifty Six percent of India’s commercial energy requirement is met with coal. To meet the increasing demand India produces 320Mn Tons and imports close to 32Mn Tons of coal annually. Although, India has the world’s 3rd largest hard coal reserves second only to the United States and China, the country is largely dependent on imports for meeting its requirement.
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To reduce dependency on imports, India is attempting to expand production. Significant investments need to be directed towards enhancing local coal quality and for expanding mine capacity. Since, Coal and Electricity are related industries, the reforms in each of the sectors need to be accelerated in tandem.
Although liberalization has been progressively introduced in the Coal industry, however the industry continues to be plagued with bottlenecks. Duties and tax continue to be levied on imports. The government has a virtual monopoly and exercises control over the distribution channels. State-owned Coal India Ltd contributes 88% of total Indian coal produce.
The reforms need to be directed towards accomplishing two primary objectives.
· First, to make the Coal sector globally competitive by doing away with bureaucratic rigmarole and control.
· Second, to increase market demand by making the allied Electricity industry financially viable.
Realizing the needs and the growth potential of the sector, the government has made the timely move to open it to foreign investors. In addition to widening the scope of FDI in the Coal sector, incentives have been offered to private companies.100% equity in the Indian subsidiaries has been allowed to Private companies setting up coal washeries. 100% foreign equity has been granted to private companies engaged in mining coal for captive consumption. 74% foreign investment has been allowed to companies engaged in Iron & Steel production and Cement production.
Private players can reap benefits by strategically positioning themselves in the Indian Coal industry, which is set out for a makeover. RNCOS’ market research report “Indian Coal Industry: Opportunities for Growth (2006)” explains the various aspects of the Coal industry. A comparative analysis of the Coal industry in the global scenario has been presented with a focus on the performance of the key players. Graphs and charts have also been incorporated.
It focuses on the following issues:
· Global Coal industry scenario
· Indian Coal sector in global perspective
· Recent trends and developments in the India Coal sector.
· Key driving forces in Indian Coal sector
· Company analysis of the major players in the Indian Coal sector
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