A recent report by EY-Parthenon and the Indian Steel Association expects India's coking coal demand will increase to 135 million tons by 2030, up from 87 million tons in the fiscal year 2025. This growth is linked to the country’s goal of achieving a 300 million tons steel production capacity by the end of the decade.

The steel industry is the primary consumer, using about 95% of India's coking coal. Although the government aims to increase domestic raw coal production to 140 million tons by the fiscal year 2023 to reduce import dependence, India will remain a major importer. To mitigate supply risks, the report suggests diversifying import sources beyond its current main suppliers, which include Australia, the US, and Canada.