To reduce India's dependence on imported thermal coal, state-owned Coal India Limited 

was eyeing development of domestic reserves, CIL's interim Chairman and Managing Di

rector Gopal Singh said Thursday. 

Imports accounted for 23% of India's coal supply in fiscal 2016-2017, running from April-

March, he said at the annual general meeting of CIL shareholders. 

India's coal-based power generation capacity was expected to rise from 125 GW in 2012

to 330-441 GW by 2040, which will require fast development of domestic reserves, he sa

id. 

Coal production had increased substantially in the last three years, resulting in a reducti

on in imports and foreign exchange savings of Rupees 259 billion ($4 billion), he pointed

out. 

India's thermal coal imports have fallen from 174 million mt in fiscal 2014-2015 to 149 mil

lion mt in 2016-2017, according to CIL data. 

During fiscal 2016-2017, CIL produced 554.14 million mt of coal, down from its target of 6

00 million mt.