Russia may supply more coking coal to India

Amarendu Prakash, who heads one of the largest state-owned steel companies, said that India plans to increase imports of Russian coking coal. The Russian Federation is to supply four batches of the raw material by the end of 2023. This is reported by TASS.

Since April this year, Prakash's company has received from the eastern BRICS partner eight shipments of coking coal the main component of steel production. Apart from Russia, Australia and the US are also importing coal to India. Between April and August 2023 fiscal year, Indian manufacturers bought 25.7 million tonnes of the raw material.

According to studies by some analytical and public organisations released on the eve of the Eastern Economic Forum, the Russian Federation could take over as the main exporter of coking coal to India in seven years. The improvement of logistics channels, sea and railway, is coming to the fore. Subject to the establishment of a single tariff within the framework of the North-South international transport corridor, the Russian Federation can supply India with 33 million tonnes of this raw material in excess of the estimated volume, experts explain.