'Bringing coal sector out of decades of lockdown': PM Modi announces 'big step' for self-reliant India

Prime Minister Narendra Modi on Thursday said India will turn the COVID-19 crisis into an opportunity, become self-reliant and reduce its dependence on imports. The announcement was made by the Prime Minister while addressing an event on this day to launch the auction of 41 coal mines for commercial mining, a step which he called "major".

"We are not just launching the auction for commercial coal-mining today, but bringing the coal sector out of decades of lockdown," Prime Minister Modi said while addressing the launch through video conferencing. The Prime Minister also highlighted that India, despite having the world's fourth-largest coal-reserves and being the second-largest producer, still does not export coal but is the world`s second-largest coal-importer.

According to a release, the Ministry of Coal, in association with the Federation of Indian Chambers of Commerce & Industry (FICCI), is launching the process for auction of 41 coal mines under the provisions of CM (SP) Act and the MMDR Act to achieve self-reliance in the coal sector.

It said that the auction process marks the beginning of the opening of the Indian coal sector for commercial mining and it will enable the country to achieve self-sufficiency in meeting its energy needs and boost industrial development.

The commencement of the auction process of coal mines for sale of coal is part of the series of announcements made by the Centre under the Atmanirbhar Bharat Abhiyan.