In this episode, journalist Puja Mehra speaks with Subhomoy Bhattacharjee, Journalist and Contributing Editor at Business Standard, about the paradox at the heart of India’s coal economy—why the country is sitting on large coal stocks even as it continues to import coal for power generation. They discuss how India’s transition from coal shortages to apparent surplus masks deeper structural problems in production, transportation, pricing, and quality.

Drawing on recent data and policy decisions, Bhattacharjee explains why domestically mined coal often fails to reach power plants economically, how high rail freight costs and geographic mismatches distort supply, and why many plants prefer imported coal despite higher headline prices. The conversation also examines the opening up of coal mining to private players, the weakening of Coal India’s monopoly, and the push towards market-driven coal pricing through proposed coal exchanges.

The discussion concludes by looking ahead to India’s energy future, assessing whether coal consumption has peaked, how rising electricity demand from data centres and the AI economy could reshape power needs, and why coal is likely to remain central to India’s power mix for years to come. Tune in for insights on what India’s coal surplus reveals about infrastructure bottlenecks, market design, and energy policy.

CHAPTERS

(00:00) Introduction to India’s Coal Economy

(02:00) The Coal Surplus Puzzle

(04:00) Why Coal Isn’t Reaching Plants

(06:30) Transport Costs and Rail Bottlenecks

(09:00) Imported Coal vs Domestic Coal

(11:30) Why Plants Aren’t Near Mines

(14:00) Pollution and Poor Plant Location

(16:30) Private Miners and Rising Production

(18:30) Can Coal India Adapt

(21:00) Coal India’s Financial Health

(23:30) Employees and Market Transition

(26:00) Coal Pricing and Linkages

(28:00) Has India’s Coal Use Peaked

(30:30) AI, Data Centres and Power Demand

(33:00) Global Coal Demand Outlook

(35:30) Nuclear Power and the Future

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