The Government emphasized on coal's ongoing role in powering the nation's electricity needs and committed to boosting fossil fuel production to meet the rising energy demands. It acknowledged its obligation towards renewable energy sources and the imperative target of achieving 50% energy from renewables and reaching Net Zero carbon emissions by 2070 to combat environmental concerns.

During the launch of the eighth round of commercial coal mines auction, Coal Minister Pralhad Joshi underscored India's surging power consumption, reaching 240 GW, expected to double by 2030. Joshi highlighted that while the share of coal-generated power might decrease proportionately, the absolute demand for coal will rise.

He assured that India, with concerted efforts, would fulfill the growing demand while adhering to sustainable coal mining principles. The auction included 39 mines, coinciding with Tribal Pride Day, holding significance for the tribal communities, as many of these blocks are concentrated in coal-rich regions.

The minister emphasized the deep connection between the coal sector and tribal communities, stating that these auctions, primarily located in coal-bearing states, would benefit a substantial tribal population once operational. He mentioned the successful conclusion of seven prior coal auctions, amounting to 91 mines auctioned.

The anticipated operationalization of these coal mines is projected to attract investments exceeding Rs 33,000 crore in the coal-rich regions. Minister Joshi highlighted the potential of these new mines to generate employment opportunities for nearly 300,000 individuals directly and indirectly, fostering a flourishing ecosystem of opportunities.