News18» News»Business»India Makes Future Coal Import Disclosures Mandatory
1-MIN READ

India Makes Future Coal Import Disclosures Mandatory

Representative Image

Representative Image

India has made it mandatory for coal importers to disclose future shipments, in a move seen as tightening screening to curb imports to protect domestic producers.

India has made it mandatory for coal importers to disclose future shipments, in a move seen as tightening screening to curb imports to protect domestic producers.

Importers of coking coal, steam coal and bituminous coal would have to gain a permit ahead of deliveries, the commerce and industry ministry said https://content.dgft.gov.in/Website/dgftprod/575732e8-1449-4a32-80e1-d0cbba8137a0/notification%20no.49%20dated%2022.12.2020%20scanned%20english.pdf on Wednesday.

"The Coal Import Monitoring System (CIMS) shall require importers to submit advance information in an online system for import of items and obtain an automatic registration number," it said.

India's coal consumption was likely to rise in coming years, but it could vary widely, with 2030 demand seen anywhere between 1.15 billion tonnes and 1.75 billion tonnes.

The latest move for greater screening is aimed at pushing economic self-reliance to reduce imports and increase exports of value-added products by Prime Minister Narendra Modi's government, officials had told Reuters in September this year.

first published:December 24, 2020, 11:14 IST
Loading...