Australian coal exporters look for succour in India
Facing a reversal in demand due to trade issues with China, the Australian government is looking to leverage the growth in India’s electricity market through exports of thermal coal. With this goal in mind, Australia’s Resources Minister Matthew Canavan will be visiting Kolkata on August 26 to promote billions of dollars in thermal coal exports. According to a report, if India is able to import coal upto China’s level, this could help Australia with US$ 3.4 billion in revenue and generation of 4,000 jobs. The report, released by the Office of the Chief Economist opines that Australia should prepare for the twin pressures of economic and population growth that are projected to catalyse energy demand in India. But it also cautions that Indian coal imports could also fall owing to lower than expected demand, rapid reduction of barriers to higher domestic coal output, and a faster than expected uptake of renewables.