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- Recently,Union cabinet has decided to permit 100% foreign direct investment(FDI) in the coal sector.
- This decision is likely to help the coal-bearing states to get more revenue and bring in more players to create an efficient and competitive coal market.
- However,experts have said that right kind of policies are needed to ensure that global players come to India.
- The policies would include a (a)single-window clearance to ensure approvals on environment clearance (b)mining leases and (c)land acquisition are processed in a time bound manner.
- Further,the foreign investment will be beneficial for India as it is among the few remaining markets where coal mining and demand for the resource is growing.In most other countries,demand has peaked.