NEW DELHI – India's Cabinet on Tuesday approved a plan to allow private companies to bid for coal mines for commercial production, a move that would help the country cut imports and boost local production.
"This is an important reform and will ensure affordable and reliable supply of coal," Coal Minister Piyush Goyal told a news conference, adding that the move would allow Indian and foreign companies to mine coal.
Coal accounts for 70% of India's power generation, and the country has a target to produce one-billion tonnes by 2022.