Diversify, Innovate And Decarbonize Coking Coal For India's Steel Vision

India must achieve material security, cost competitiveness and sustainability goals through policy and technology levers for coking coal.

In brief

• India's steel vision 2050 is heavily reliant on coking coal, while the global supply-demand is set to decline
• Demand side interventions would include improving manufacturing efficiencies and adopting alternative technologies
• Supply side interventions would include increasing domestic mining and logistics infrastructure and diversification of import sources across the globe

The global coking coal market is poised for significant shifts between 2023 and 2050, influenced by decarbonization efforts and market dynamics. India's demand however would continue to increase from 80 MT in FY 24 to 150 million MT by 2050, due to the dependency on BF route for the expansion plans. India's metallurgical coal production stood at 65 million metric tons in FY24. While this could cross 200 million metric tons by FY50, the