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.
Related Files Report PDF Date Published 08/2023 Authors Priyanka Mohanty, Emilia Chojkiewicz, Epica Mandal Sarkar, Rohit Laumas, Akash Saraf, Avanthika Satheesh, Nikit Abhyankar Abstract India
Prime Minister Modi’s commitment to Atmanirbhar Bharat aims to make India energy independent by 2047. However, India currently imports 90% of its oil and 80% of industrial coal.