PM Modi launches coal mines auction, says India must become self-reliant in energy sector

New Delhi: Prime Minister Narendra Modi on Thursday addressing the event to launch the auction of 41 coal mines for commercial mining said that India will turn the COVID-19 crisis into an opportunity, become self-reliant and reduce its dependence on imports.

"India will turn this COVID-19 crisis into an opportunity. It has taught India to be self-reliant. India will reduce its dependence on imports. To make India self-reliant in the energy sector, a major step is being taken today," Prime Minister Modi said .

"We are not just launching the auction for commercial coal-mining today, but bringing the coal sector out of decades of lockdown," he said addressing the launch through video conferencing.

The Prime Minister also highlighted that India despite having the world's fourth-largest coal-reserves and being the second-largest producer still does not export coal but is the world's second-largest coal-importer.

According to a release, the Ministry of Coal, in association with FICCI, is launching the process for auction of 41 coal mines under the provisions of CM (SP) Act and MMDR Act to achieve self-reliance in the coal sector.

It said that the auction process marks the beginning of the opening of the Indian coal sector for commercial mining and it will enable the country to achieve self-sufficiency in meeting its energy needs and boost industrial development.

The commencement of the auction process of coal mines for sale of coal is part of the series of announcements made by the Centre under the Atmanirbhar Bharat Abhiyan.