As the world’s two largest foreign importers of the fuel for power production adapt their purchases to match the various trajectories of their economic growth, India is quickly catching up to China in terms of thermal coal imports.

India, which is regarded as one of the fuel’s last big growing markets, has increased its purchases from Russia and Indonesia in the wake of the invasion of Ukraine, which Moscow refers to as a special operation.

According to consulting firm Wood Mackenzie, India’s thermal coal imports are projected to increase 7% annually to 158 million tonnes in 2022 and further 3% to 163 million tonnes in 2023.

In contrast, Woodmac predicted that from 246 million tonnes in 2021, shipments of the fuel resource to China, the world’s largest consumer, may fall to 182 million tonnes in 2022 and 176 million tonnes in 2023.