The total support on coal for fossil fuel production in India is experiencing a downward trend. Starting from 2024, at 84.34 million USD, it is projected to decline yearly, with figures showing a year-on-year decrease of around 3% to 4%. By 2028, the support is forecasted to decrease to 72.32 million USD. This projected decline represents a five-year compound annual growth rate (CAGR) of approximately -3%. In 2023, the support was notably higher, indicative of a strategic shift in energy policy.
Future trends to watch include:
- Government policies transitioning towards renewable energy, possibly leading to more reductions in coal support.
- Technological advancements in energy efficiency and alternative fuels could further impact future fossil fuel support levels.
