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PM Modi launches auction of coal mines, says India will turn COVID crisis into opportunity

Prime Minister Narendra Modi today launched the auction of 41 coal mines, for commercial mining saying that this is an important step in making India self- reliant in the energy sector.

Prime Minister Modi said, "The coal market is now open and will help all sectors," adding that India will fight the coronavirus and win the war against it.

"India will turn the COVID-19 crisis into an opportunity. It has taught it to be self-reliant. India to reduce its dependence on imports," Modi said.

PM Modi Speech:

We have taken several steps to change the scenario and boost the coal sector. India has taken a historic decision to open the sector to boost competition, investment, participation and technology, measures that have also been taken to encourage new players: PM Modi

coal auction,Prime Minister,PM Narendra Modi,COVID-19 crisis,commercial mining

PM Modi: Coal sector reforms will have a positive impact on many other sectors, such as power, steel, aluminum, cement, and fertilizers.

Modi: Investments of 20,000 crores will be invested in  4 coal gasification projects to convert massive resources in environment-friendly fuel

Commercial auction of coal blocks win-win for industry users; New resources will open, states to get more revenue, employment: PM

The opening up of the coal sector is done with environmental protection measures. 100 MT of coal will be converted to gas by 2030: PM

The auction (41 coal mines for commercial mining) is taking place today at a time when business activity in India is rapidly normalizing. Consumption and demand are rapidly approaching the pre-COVID level. In such a situation, there could not be a better time for a  new beginning: PM Modi

The Government Made an Important Decision to Open Coal and Mining Sector to Competition, Capital, and Technology: PM Modi

The Prime Minister says India should be the world's largest coal exporter by looking at the size of reserves, criticizing past policies to keep the sector closed.

"For decades, the country's coal sector was entangled in a web of captive&non-captive. It was excluded from the competition, there was a significant transparency problem. After 2014, various measures were taken to change this situation. Prime Minister Modi said," The coal was strengthened due to the measures taken ".

We have set a target to gasify about 100 million tons of coal by 2030. I am told that 4 projects have been identified for this purpose and about 20 thousand crores will be invested in: Modi

Allowing private sector in commercial coal mining  opens up the resources of the nation with the world's fourth-largest reserves: PM Modi

Also Read: China’s Great Wall Motor signs MoU with Maharashtra, to invest USD 1 billion

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