India Announces Launch of National Coal Exchange

India is preparing to launch its first coal exchange, aimed at enhancing market access and facilitating transactions between coal sellers and buyers. Union Minister G Kishan Reddy announced that the exchange will operate online and include a clearing and settlement mechanism, ensuring easier access to coal. This initiative is part of the coal ministry's 2024-25 action plan and is expected to create a more transparent and competitive market, moving away from the current dominance of Coal India. Additionally, the establishment of a regulator for the coal sector is being considered to support this new trading platform. The Coal Controller Organisation will oversee the exchange's operations, and India is also open to importing coking coal from Russia if necessary. The exact timing of the exchange's launch remains unspecified, but it is anticipated to be operational soon.