Gross calorific value to define coal pricing

However, the transition to GCV pricing would be in phases, to assist sectors having huge discounts now. Among the major producers of coal globally, India is the only country that does not follow the GCV system. Thus, the move is expected to lead to a gradual rise in Indian coal prices to international levels.

“The coal ministry has directed us to gradually shift to GCV benchmark from January 1," says CIL chairm an and managing director N C Jha.

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