Thursday 21 September 2017

India to emerge as paramount leader in coal & mining sector, predicts Aastha Group


There has been a significant increase in India's coal imports from 43.08 mm metric tons in 2006-07 to 199.88 mm metric tons in 2015-16, stated Mohit Aggarwal, the Chief Managing Director of Aastha Group, states that The exports further rose from 1.55 mm metric tons in 2006-07 to 2.45 mm metric tons in 2009-10, but subsequently declined to 1.25 million metric tons in 2015-16.

Aastha Group


The history of commercial coal mining in India can be traced back to more than 250 years. It was started in the year 1774 by M/s Sumner and Heatly of The East India Company in the Raniganj Coalfield along the Western bank of river Damodar. India boasted of pioneering the coal mining industry in the regions of British India known as Bengal, Bihar and Odisha, the Kutch Gurjar Kshatriyas from the year 1894. Also, a number of Indian coal mines were established in the regions like Khas Jharia, Jamadoba, Balihari, Tisra, Katrasgarh, Kailudih, Kusunda, Govindpur, Sijua, Sijhua, Loyabad, Dhansar, Bhuli, Bermo, Mugma, Chasnala-Bokaro, Bugatdih, Putki, Chirkunda, Bhowrah, Sinidih, Kendwadih, and Dumka. Eventually, this broke the previous monopolies held by British and other Europeans.

 “It was Seth Khora Ramji Chawda of Sinugra who was the first Indian to break the British monopoly in the Jharia Collieries,” says Mohit Aggarwal of Aastha Group.

Though, coal mining in India witnessed slow growth for about a century, the introduction of steam locomotives in 1853 gave the much-needed boost. Within a short span, the production escalated to an annual average of 1 million tonne (mt). From 6.12 mts in 1900, India started producing 18 mts by the year 1920.

Aastha Minmet India Pvt Ltd highlights that the production got a sudden boost after the First World War but went through a slump in the early 30s. It reached a level of 29 mts by 1942 and 30 mts. by 1946. The country started emphasizing on its 5-year development plans during the time of Independence.

At the beginning of the 1st Plan, annual production went upto 33 mts. However, a need for increasing coal production by systematic and scientific development of the coal industry was felt during the 1st Plan period itself. In an attempt to ensure a planned development of Indian Coal Industry, the National Coal Development Corporation (NCDC) was set up in 1956. Apart from this, the Singareni Collieries Company Ltd (SCCL) was yet another Government coal company that India had in the fifties. At present, it is a joint undertaking of Government of Andhra Pradesh and Government of India sharing its equity in 51:49 ratio.

At present, India boasts of plenteous domestic reserves of coal. Aastha Minmet India Pvt Ltd states that it ranks at 4th position in world coal production. On account of growing needs of this industry, the country will soon emerge as the paramount lord of coal and mining sector.




3 comments:

  1. Coal industry is a large scale business. It would be great to hear that we are coming on a great position among the world.

    ReplyDelete
  2. Yes you are the right path as I can sense it. Great to go.

    ReplyDelete