Report Summary Analysing Domestic and International Coal Outlook
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As coal use continues to decline in many major economies of the world due to the their adaption towards cleaner, low carbon fuels. But, these offsets in demand of coal shall be filled up by India and other Southeast Asian countries as the thermal coal consumption in these economies are projected to remain high in coming years. However, India too has set up ambitious targets for developing renewable energy , aiming for 175 GW by 2022.Having said that, the future for coal still seems optimistic , given the much anticipated increase in the power demand. Government’s initiative for “Power to All” coupled with the rapid economic growth indicates enough towards an increasing role of coal for meeting India’s electricity requirements.
Globally, the demand for coal has been stalled and has plateaued in the west. Whereas in eastern side of the globe, situation is different. A strong growth in the demand for coal is likely to be seen in the Asian countries such as India, Vietnam, Indonesia etc as it is one of the most preferred and reliable options for generating electricity in these countries. Imports in small pockets including Pakistan, Turkey & Malaysia shall also drive the demand but India being the centrifugal force is likely to witness a rise of close to 5% a year through 2021, while that in association with the southeast Asian nations will jump 7.2% a year.
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BUSINESS CASE FOR INDIAN COAL OUTLOOK & DYNAMICS IN INDIA
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