India’s coal sector outperforms core industries, raising concerns about renewable energy goals.
India’s coal sector has emerged as the star performer among eight core industries, registering a robust 10.2% growth in May 2024, according to the Ministry of Commerce & Industries. This surge outpaces the overall growth of the eight core industries, which clocked in at 6.3% for the same period.
While the coal industry’s expansion translates to increased energy security and potentially lower costs for manufacturers, it raises concerns about the country’s commitment to renewable energy sources. India has ambitious goals to reduce its reliance on fossil fuels and combat climate change.
The press release highlights the Ministry of Coal’s efforts in boosting production, which reached 83.91 million tonnes in May 2024, a 10.15% increase year-on-year. This surge is attributed to the government’s initiatives aligned with the “Atmanirbhar Bharat” vision of self-sufficiency.
Experts, however, warn that continued dependence on coal could undermine India’s renewable energy drive. Balancing economic growth with environmental sustainability will be a critical challenge for policymakers moving forward.