India's coal production witnessed a substantial increase of 8.55 per cent, reaching 223.36 million tonnes in the April-June quarter of 2023-24, compared to the corresponding period of the previous year, according to an official statement released on Friday.

During the same period in the fiscal year 2022-23, coal production stood at 205.76 million tonnes, as reported by the Ministry of Coal.

Among the total production, Coal India Limited (CIL) accounted for 175.48 million tonnes, registering an impressive growth rate of 9.85 per cent compared to the previous year's figure of 159.75 million tonnes.

The remaining production came from other captive mines.

While there was a notable increase of 16.76 per cent in coal imports during April-May 2023 compared to the same period in the previous year, it is crucial to note that this rise was mainly attributed to the significant decline in coal import prices, as reported by the ministry.

Coal import prices experienced a decline of over 60 per cent in the first quarter of FY24, compared to the same period in the previous year.

The ministry highlighted that the country has sufficient coal stock available, amounting to 107.15 million tonnes (67 million tonnes with coal companies, 33.61 million tonnes with thermal power plants, and 6.54 million tonnes at private washeries/good shed siding/ports) at the end of June 2023, indicating a growth of 37.62 per cent compared to the same period last year.

The increased coal production in India is attributed to the dedicated efforts of the coal industry, reflecting its commitment to fulfilling the nation's growing energy requirements, as stated by the ministry.

India has set a coal production target of 1,012 million tonnes for the fiscal year 2023-24.