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India’s steel sector remains heavily dependent on imported coking coal. India’s next phase of steel expansion would lock the country into more than US$1 trillion in coking coal imports, deepening India’s energy import dependence, foreign-exchange exposure, and vulnerability to carbon border measures in export markets.

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Power
Report

Clean Energy as Economic Statecraft: Ten Strategies for Powering Viksit Bharat 2047

India has crossed a structural threshold: clean energy is no longer a climate choice; it is now economic statecraft. Handled strategically, it can halve economy-wide energy costs and halve fossil-fuel imports by mid-century, converting over US$200 billion per year currently spent on fuel imports into domestic capital formation and infrastructure investment. This would deliver a decisive boost to industrial competitiveness, energy security, and trade stability. Managed poorly, however, it risks remaining a fragmented sectoral transition, leaving India exposed to import volatility, fuel-price shocks, and stranded capital.

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