India will soon be setting up a coal trading platform as it gears up to bring in commercial mining in the coal sector.
Under the proposal, the entire coal produced in the country will be traded on a platform called ‘Coal Exchange’.
Coal Exchange will be an online coal trading platform where the pricing will be determined in a transparent manner on the basis of demand and supply.
The setting up of India’s first coal trading platform is significant as it paves the way for the entry of multiple buyers and sellers in the coal sector.
Coal Exchange is expected to be the only trading platform for organised sale of coal in India.