INNOVATIVE FINANCIAL ADVISORS PVT. LTD. - One could imagine the heartbreak of not being able to watch the last hit for six by the Indian captain Mahendra Singh Dhoni due to power cut. But, Indians more often than not doesn’t realize the importance of energy. A day without energy will put The country will come to a standstill if we were to spend a day without energy.
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The importance of black gold – innovative financial advisors pvt. ltd.
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One could imagine the heartbreak of not being able to watch the last hit for six by the Indian captain Mahendra
Singh Dhoni due to power cut. But, Indians more often than not doesn’t realize the importance of energy. A day
without energy will put The country will come to a standstill if we were to spend a day without energy.
The miners are well-versed with this feeling. When asked if they miss watching the Indian team playing the World
Cup, their reply while wiping sweat from their forehead is if we don’t come down here, none of our countrymen
will have electricity to watch the Indian team play. For them, mining coal is a mission for the nation.
The energy demand in India is likely to soar in the next two decades. The concern is that the coal supplies is barely
increasing, implying that the country faces a dark future owing to power cuts and reliance on expensive imported
fuels. Despite major increase in power sources such as nuclear and renewable energy, coal will continue to remain
India’s most important fuel source for decades to come.
It is estimated that India will become the 2nd largest coal consumer after China by 2025 and will surpass Asia’s
largest economy soon after that. The nation aspires to become an economic superpower, but without coal the
vision cannot be realised. Recent scams have already left power stations idle and the citizens without power. In
India, a ton of coal travels 650 km, on an average, from a mine before being converted into electricity. However,
these aren’t the only challenges as India targets doubling up the coal production to 1 billion tons by 2020.
Innovative Financial Advisors Pvt. Ltd. understands that the dream of providing power to millions of Indians and
transformation of the country as a global manufacturing hub will be trashed if this target is not met. Over the years,
it has been observed that the cost of power is critical for growth. Though if India succeeds, its air quality will
further deteriorate, but only if it can generate sufficient energy it will have sustained growth for India to become
the fastest growing major economy. Many global companies would want India’s state dominated mining sector to
open up as China tries to wean off coal production due to pollution. India does have the potential, as it has the
world’s fifth largest reserves.
Innovative Financial Advisors Pvt. Ltd. believes that 67 billion tons of coal is more than enough to provide cheap
fuel for decades. India’s main issue is digging coal fast enough to meet the countries requirement. The production
has barely increased in the last five years. Other issues such as new land for mining, environmental clearances and
transportation are bottlenecks for improvement in productivity.
As per estimates, the energy demand is likely to double by 2040, most of which has to be met by coal. Until and
unless India increases its domestic production significantly, its imports will rise three-fold making it the world’s
largest and most energy-import dependent economy.
By Rahul Choudhury
Media Team – Innovative Financial Advisors Pvt. Ltd.