Chief Correspondent, Commodities, India
Krishna's Feed
Nov 20, 2014

India to allow foreign firms mine and sell coal

NEW DELHI (Reuters) – India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalised industry after four decades, Coal Secretary Anil Swarup told Reuters.

To end a chronic coal shortage that cripples power plants and curb the country’s imports of the fuel, the Narendra Modi government will also spend about $1 billion by 2019 to buy railway wagons and transport coal from remote mines, Swarup said in an interview on Thursday.

Nov 20, 2014

Modi’s divide and rule weakens Coal India unions as strike looms

NEW DELHI, Nov 20 (Reuters) – A rift between the five
powerful labour unions at Coal India Ltd is set to
clear the way for Prime Minister Narendra Modi’s government to
complete a stake sale in the state company that is critical to
hitting budget targets.

One of the unions, close to Modi’s nationalist party, says
it has the backing of half of Coal India’s 370,000 workers and
will not join a strike on Monday to oppose plans to sell 10
percent of the firm and let private firms to mine and sell coal.

Nov 12, 2014

India says may stop thermal coal imports in 2-3 yrs

NEW DELHI, Nov 12 (Reuters) – India, the world’s
third-largest buyer of overseas coal, may be able to stop
imports of power-generating thermal coal in the next three years
as state behemoth Coal India steps up production, the
country’s power and coal minister said.

Prime Minister Narendra Modi’s government has asked Coal
India, the world’s largest miner of the fuel, to more than
double its output to 1 billion tonnes by 2019 to feed existing
and upcoming power plants.

Nov 9, 2014

Modi’s ‘Make in India’ push to depend on Chinese steel

NEW DELHI, Nov 10 (Reuters) – India’s steel consumption is
expected to grow at its fastest pace in five years next year on
Prime Minister Narendra Modi’s infrastructure push, but a
scarcity of raw materials means it will be at the expense of
another key goal – curbing imports.

In his triumphant election campaign, Modi criticised the
last government for exporting iron ore but importing steel. But
his first five months as the prime minister has coincided with a
surge in imports of both, denting his high-decibel drive to make
India an export powerhouse.

Oct 22, 2014

Modi takes first bite at coal to end India’s power mess

NEW DELHI, Oct 22 (Reuters) – India could allow commercial
coal mining by foreign companies if they set up units in the
country, opening the door for global giants like Rio Tinto
to access the world’s fifth-largest coal reserves, a
source familiar with the matter said.

Prime Minister Narendra Modi’s decision to open commercial
coal mining to private players is a key step towards bringing
order to the country’s chaotic power industry and ending the
chronic blackouts that impede its economic rise.

Oct 20, 2014

PM Modi steps up economic reforms, eyes privatisation

NEW DELHI (Reuters) – India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls.

Using an executive order, the cabinet agreed to allow private Indian companies to mine and sell coal at an unspecified future date, Finance Minister Arun Jaitley said. That sets the stage for the biggest liberalisation of the industry in more than 40 years.

Oct 20, 2014

India’s Modi steps up economic reforms, eyes privatisation

NEW DELHI, Oct 20 (Reuters) – India promised on Monday to
open up the coal industry to private players and moved closer to
selling a stake in a state-run oil company, as Prime Minister
Narendra Modi picked up the pace on economic reform days after
relaxing fuel price controls.

Using an executive order, the cabinet agreed to allow
private Indian companies to mine and sell coal at an unspecified
future date, Finance Minister Arun Jaitley said. That sets the
stage for the biggest liberalisation of the industry in more
than 40 years.

Oct 10, 2014

India’s JSW Steel ‘very close’ to deal for London Mining: source

By Karen Rebelo and Krishna N Das

(Reuters) – India’s third-largest steelmaker JSW Steel (JSTL.NS: Quote, Profile, Research, Stock Buzz) is nearing a deal to buy embattled West African iron ore miner London Mining (LOND.L: Quote, Profile, Research, Stock Buzz), a source with direct knowledge of the negotiations said on Friday.

“JSW is very close to a deal. It is almost 100 percent done,” the source said.

Oct 10, 2014

Severe coal shortage at power plants hits industries

NEW DELHI (Reuters) – A power plant in New Delhi is among 37 across India that have either exhausted their coal or have less than four days’ supply, a shortage that has forced some states to ration power for industries and homes.

Many states have been hit by a severe power deficit which has dealt a blow to small-scale factories that produce everything from steel to textiles and cannot afford alternatives such as diesel generators.

Oct 10, 2014

Severe coal shortage at Indian power plants hits industries

NEW DELHI, Oct 10 (Reuters) – A power plant in India’s
capital New Delhi is among 37 across the country that have
either exhausted their coal or have less than four days’ supply,
a shortage that has forced some states to ration power for
industries and homes.

Many states have been hit by a severe power deficit which
has dealt a blow to small-scale factories that produce
everything from steel to textiles and cannot afford alternatives
such as diesel generators.

    • About Krishna

      "I lead the India commodities team for Reuters in New Delhi. I cover the coal, metals and mining industries with a focus on government policy. Before coming to the capital in April 2013, I headed two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
    • More from Krishna

    • Contact Krishna

    • Follow Krishna