Economics
Coal to India Beating China on Singh’s Decree: Energy Markets
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India is poised to surpass China as the world’s biggest thermal coal importer as Prime Minister Manhoman Singh seeks supplies for power makers that have halted plans for $36 billion of new plants because of a fuel shortage.
Purchases from abroad may exceed 118 million metric tons this year in India, compared with China’s 102 million tons, said Daniel Hynes, a director of commodity research at Citigroup Inc. in Sydney. Imports may rise after the government ordered state-run Coal India Ltd. to plug a local shortfall with foreign supplies, according to analysts at Sanford C. Bernstein & Co.