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Indian Prime Minister Prods Coal Monopoly
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Coal India, is a state run monopoly which is a huge stumbling block for India's economic development. India lags behind Brazil, Indonesia, Thailand, Vietnam and Malaysia in the percentage of the population having electricity. Production methods do not use modern technology similiar to mines in other countries, and the average age of the 333,000 employees is 45-50 years. An eight hour shift at some mines produces as much coal as a mine in the U.S. does in 5 minutes, because of the lack of modern technology. About 300 million Indians lack electricity. The Modi administration's focus is on improving efficiency, introducing competition, and bringing major technological changes to the coal industry. Piyush Goyal, India's Coal minister faces one of the biggest challenges in the Modi administration. His focus is on efficiency, and the Modi administration has set a target of 1 billion tons for 2020, a 15% increase in production each year for the next 5 years.
Coal India under the Modi administration- problems with lack of technology and the 1 billion ton target for 2020
05/14/2015
India's coal monopoly Coal India, is state run and hugely inefficient, lacking technology that is commonly found in other countries. The average age of 333,000 employees is 45-50, and with the lack of modern technology, an eight hour shift can produce what a modern mine in the U.S. could do in 5 minutes, say experts. Coal plays a critical role for electricity production to power India's manufacturing, and its economy. The Modi administration is focussing on efficiency, introducing competition, and setting a target of about 15% growth in output for the next 5 years. Only about 75% of Indians have access to electricity, much lower than Brazil, Indonesia, Thailand, Malaysia and Vietnam. China is close to 100%.
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With about 300 million people without electricity, and India lagging behind Brazil and Indonesia in the percentage of population lacking electricity, the goal is to modernize the coal industry and increase production. This shows the different tradeoffs in less developed countries such as India, which face a completely different set of tradeoffs, and are moving in the opposite direction out of necessity. China is just entering a period after rapid modernization where the discussion about the tradeoffs is shifting, whereas India remains in a very different phase.
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