India seeks increased coal imports from Russia

Officials have revealed that India is seeking to increase its purchases of coal from Russia, potentially making it the second largest imported commodity from the resource-rich country, following crude oil. Faggan Singh Kulaste, the Union Minister of State for Steel and Rural Development, held discussions with Sergey Tsivilyov, the Governor of Kuzbass, during the St Petersburg International Economic Forum (SPIEF), focusing on strengthening bilateral cooperation in the coal sector.

Kuzbass is renowned as Russia's foremost coal-producing region, with its economy heavily reliant on the export of raw materials, particularly coal and metals.

According to informed sources, imports of coking coal from Russia are expected to double this year, surpassing the 54 million tonnes imported in 2022-23. This surge can be attributed to lower prices, faster deliveries, and Indian companies' strategic decision to diversify their coal sources.

Representing India at the ongoing SPIEF 2023, Minister Kulaste highlighted key aspects of India's energy policy during a panel discussion on "Energy Challenges & Opportunities for the 21st Century.