NE BUSINESS BUREAU
CHENNAI, MAR 2
India is working on achieving its goal to reduce spending on importing machinery and equipment for coal mining and simultaneously building up its own capacity to step up exports to other countries, Amrit Lal Meena, Union Secretary, Ministry of Coal said here on Saturday.
Shri Amrit Lal Meena lauded the dynamic leadership of Shri Prasanna Kumar Motupalli, CMD, NLC India Limited, stating, “Under the able leadership of Shri Prasanna Kumar Motupalli, #NLCIL has achieved over 100% enhancement in their market capitalisation in just one year. pic.twitter.com/Qu1t9xXpaW
— NLC India Limited (Official) (@nlcindialimited) March 2, 2024
Coal India Limited (CIL) is still dependent on import of high capacity mining machines, rope shovels, 190T Dumpers and front-end loaders. The average annual import of these high capacity mining machines of Coal India Limited (CIL) is approximately Rs 750 crores for which customs duty of about Rs 250 crore has to be paid, he said.
- The average annual import of these high capacity mining machines of Coal India Limited (CIL) is approximately Rs 750 crores for which customs duty of about Rs 250 crore has to be paid
- CIL plans to phase down imports of these equipment gradually over the next few years and make the vision of Atma Nirbhar Bharat a reality
- Amrit Lal Meena lauds NLC India for exemplary performance
- Nearly 85 percent of the country’s coal is utilised by the power sector
CIL has been placing trial orders to encourage manufacturers to develop these equipments in India and results have been encouraging, Meena said while addressing a stakeholders meet on ‘Make in India’ initiatives for mining machineries here.
Other dignitaries at the event included Prasanna Kumar Motupalli, CMD, NLC India Ltd; and Dr. B Veera Reddy, Director (Technical), Coal India Ltd.
“CIL plans to phase down imports of these equipment gradually over the next few years and make the vision of Atma Nirbhar Bharat a reality,” the secretary said. He added that ‘Make In India’ was not just a campaign started by Prime Minister Narendra Modi but a movement towards a more self-reliant and globally competitive India. “Our ultimate goal is to reduce the spending on importing machinery and equipment and to build the capacity to export to other countries. That is our endeavour,” Meena said.
This was also why private sector participation was being encouraged for exploration in this sector, he said, and explained about the steps taken by the Centre for improvements and the roadmap for future development.
He urged stakeholders to explore ventures into coal gasification.
The present consumption of coal in India was around 1,100 million tonnes (MT) and as the domestic demand at present was about 1,300 MT coal, about 200 MT coal was being imported from other countries. Nearly 85 percent of the country’s coal was utilised by the power sector, Meena added.
With participation from numerous manufacturing companies such as BEML, Caterpillar, TATA-Hitachi, L&T, Komatsu, Gainwell, and major assembly/parts manufacturers, the roadshow was an indicator of the escalating momentum behind the ‘Make in India’ movement.
Coal Secretary Amrit Lal Meena lauds NLC India for exemplary performance
#NLCIL, in alignment with the 'Make in India' initiative launched by Hon’ble Prime Minister Shri Narendra Modi, resolves to continue its efforts towards cultivating indigenous manufacturing capabilities within the coal mining sector. pic.twitter.com/jZo1WIFOfh
— NLC India Limited (Official) (@nlcindialimited) March 2, 2024
Amrit Lal Meena lauded the dynamic leadership of Prasanna Kumar Motupalli, CMD, NLC India Ltd, stating, “Under the able leadership of Prasanna Motupalli, NLCIL has achieved over 100% enhancement in their market capitalisation in just one year. It has almost tripled in that time frame. Today, through this function, I would like to compliment Motupalli and the entire team of NLCIL for their outstanding performance and playing a pivotal role in ensuring the energy security of the country.”
NLC India Ltd, in alignment with the ‘Make in India’ initiative launched by Prime Minister Narendra Modi, resolves to continue its efforts towards cultivating indigenous manufacturing capabilities within the coal mining sector.
