Govt, steel companies to join hands for procuring coking coal abroad

The Indian government, in collaboration with the steel industry, aims to establish a unified "one nation, one buying coking-coal policy" to strengthen India's bargaining power over imported coking coal prices. Currently, individual steel manufacturers like SAIL and Jindal independently import coking coal, which limits their leverage with international miners. In FY23, India imported 56.04 million tonnes of coking coal worth ₹1.53 lakh crore, primarily from Australia and the US.