Export - Import performance of coal in India: Trends, challenges and measures for achieving trade balance

Abstract

Coal is considered to be the one of the major and crucial natural resources in the world and in our Indian economy. Coal serves as the raw material for generation of the electricity, for the hotel industry and for the other purposes which are highly effective in our economy. Among the coal producers in the world, India is the fourth largest producer of coal and for the requirements of domestic uses India also imports the coal from different countries. In the Indian economy the amount of coal exports has resulted to the trade deficit problems. Although the Indian coal sector has shown a dominant performance, world bank research has shown some serious issues which are faced by the coal industry. Through this paper an attempt has been made to examine the trends, challenges and measures for achieving trade balance through various methods. In accordance to that, existing literature has been gathered with the topics consisting of Coal Exports and Coal Imports to illegal mining, innovative technology and foster ways which improve the quality of coal. The primary objective of this research articles aims in finding out the reasons which focuses for the huge imports and low imports of coal with an objective to achieve trade balance. Thus the conclusion is there are very uncharted areas which can be taken up by the researchers to find the trade balance of coal. For the statistical analysis the tools like Mann Whitney U - Test and Annual Growth Rate has been used using SPSS and the results are provided accordingly.