Coal miners in India have called off a strike after the government and the unions reached an agreement following a meeting.

Around half a million workers are said to have taken part in the strike, which reached its second day on Wednesday when talks with the government failed.

During a further meeting, unions were assured that state-run Coal India, which has a near monopoly over production, will not be privatised.

Owing to the strike, fuel to nearly 100 coal-fired power plants have been affected raising fears of widespread disruption to power supplies.

"Fuel to nearly 100 coal-fired power plants have been affected raising fears of widespread disruption to power supplies."

As part of wide-ranging reforms to boost the economy, Prime Minister Narendra Modi wants to make state-run coal mines available to private investors.

An ordinance was also approved by the Indian Government allowing coal mines to be auctioned to private companies for their own use, as well as permitting future commercial mining.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

As reported by AFP, Power and Coal Minister Piyush Goyal agreed to look into union concerns over a cabinet-approved executive order that would enable private companies to mine and sell coal in the future, to increase production.

Five coal unions representing 3.5 million workers called for strike action amid fears that privatisation of India’s coal industry could lead to job losses.

According to sources, coal provides nearly 60% of electricity generation needs in the country and the strike had an impact on 75% of daily coal production, representing 1.5 million tonnes.