For the first time in four decades, India may open up commercial coal mining to private firms in the new year with the Government keen on gradually moving out of the end-use restrictions and cutting down on dependence on imports.

“Yes. I think we could look at that. There is some interest in commercial mining. We are also keen that gradually the country moves out of these end-use restrictions and all these controls because we are seeing the surplus situation. I don't see for the next many years, the country will have any shortages of coal,” Coal and Power Minister Piyush Goyal told PTI. His Ministry sees the country's dependence on import of fossil fuel coming further down in the New Year. “In such a situation, I think gradually my next step will be to move out from these end-use restrictions and hopefully in a year or two, we may be in a position that we don't need to have any restrictions. Coal could be an open commodity,” the minister asserted.

Asserting that challenges are in some people’s mind and he sees no challenges in the coming year in the coal sector, Goyal exuded confidence that the output of the fossil fuel would witness a good growth in 2017. “I see no challenges (in the coal sector in 2017). Challenges are in some people's mind. For me, these are all opportunities,” the Minister said. “To my mind, we will see good growth in 2017 both in consumption of electricity, particularly thermal as well as the production of coal and bring down the imports even further,” Goyal said.