India’s Coal Stocks Rise ahead of Monsoon and Strategic Shift

As of 22 Jun 2025, domestic coal stocks at Indian power plants (excluding imports) rose +0.8% WoW and +31% YoY to 58 Mt, equivalent to 21 days of consumption cover, as firm supply met rising coal-fired generation.

Chart showing India’s coal stocks at linkage power plants as of 22 June 2025, published by IFCHOR GALBRAITHS in brand colours. The visual compares 2025 data with previous years and highlights year-on-year and month-on-month increases in domestic coal supply to power plants.

However, inventories may ease in the coming days amid expected seasonal disruptions, with the monsoon forecast to advance across northwest India this week, potentially dampening electricity demand and rail logistics.

Meanwhile, India remains committed to its 1.53 Bt coal output target by 2030, while retreating from mining investments in Russia. To address a widening trade deficit, the government is shifting focus towards domestic coal mining, even as renewables continue to expand.

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