Impacted by COVID-19 pandemic, India’s top 12 ports witnessed a considerable decline in cargo traffic for the ninth straight month in December to 478 million tonnes (MT), according to ports apex body IPA.
India’s coal import declined by 17% to 137.16 million tonne (MT) in the April-November period of the current fiscal. The country had imported 165.35 MT of coal in the year-ago period, according to provisional compilation by mjunction.
Coal India Ltd chairman and managing director Pramod Agrawal said the miner is emphasising on raising its output as it is committed to fulfil the energy requirement of the country. The PSU will cross the 650 million tonne production mark during the 2020-21 financial year, he said.
The Ministry of Statistics and Programme Implementation (MOSPI) said that India’s GDP may contract by 7.7% in the current fiscal year 2020-21. Real GDP at constant prices in the year 2020-21 is likely to attain a level of Rs 134.40 lakh crore, as against the Provisional Estimate of GDP for the year 2019-20 of Rs 145.66 lakh crore, it added. The government’s first advance estimates are in line with the estimates of the Reserve Bank of India and various rating agencies. RBI has predicted India’s economy to shrink by 7.5% in FY21 while rating agencies ICRA and Crisil have predicted it to contract by 7.8% and 7.7% respectively.
Having registered a 76% spurt in its e-auction sales between April- December, state-run Coal India expects to achieve record spot sales of about 120 million tonnes in the current year, as per the senior official of the company.
Disruptions caused by the COVID-19 pandemic continued to impact cargo movement in India with thermal coal imports at 12 major ports declining 16.43% year-on-year to 55.16 million tonnes in April-December 2020 period, according to ports’ body IPA. Coking coal handling dropped by 12.13% to 36.96 MT during the April-December period of the current fiscal.