Notably, non-coking coal imports were recorded at 42.99 million tonnes, down from 47.44 million tonnes last year. Similarly, coking coal imports amounted to 15.89 million tonnes, as opposed to 14.61 million tonnes a year earlier. June 2023 saw a substantial reduction, with imports at around 21.03 million tonnes, marking a 25.21% decline from the 28.11 million tonnes imported in the same month in the previous year.

India, one of the world's top coal-producing nations, faces a reliance on imports due to domestic demand. Coking coal, crucial for steel production, remains heavily import-dependent. Vinaya Varma, MD and CEO of mjunction, anticipates a rebound in demand post-monsoon, accompanied by increased industrial activity preceding the festive season. Mjunction, a B2B e-commerce platform, is a joint venture of Steel Authority of India (SAIL) and Tata Steel.