Kolkata : The 19th edition of the Indian Coal Markets Conference (ICMC) 2026, organised by mjunction services limited, commenced in Kolkata on Tuesday under the theme “COALosseum: The Coal Battleground.”
The two-day conference has brought together policymakers, mining companies, power producers, logistics players and global market experts to deliberate on the evolving dynamics of India’s coal ecosystem.
Coal Exchange Reform in Spotlight
A major point of discussion on Day 1 was the proposed introduction of coal sales through a coal exchange platform.
V S Maharaj, Executive Director (ICT), Coal India Ltd, expressed support for a calibrated rollout of the reform.
“We are reform-aligned, not reform-resistant. We support modernization, but reform must be calibrated, phased and aligned with national energy security,” Maharaj said.
Niladri Bhattacharjee, Partner at Grant Thornton Bharat, noted that the coal exchange model would perform best in a supply-surplus environment.
“A surplus coal situation would be good for the coal exchange. It will keep prices in check despite market transaction charges and encourage the market to shift from its current D2C character,” he said.
Both experts indicated that exchange-based trading could help stabilise coal prices at lower levels.
Coal Amid Energy Transition
Vinaya Varma, MD & CEO of mjunction services limited, highlighted the dual challenge facing India’s energy landscape.
“On one hand, we are witnessing rapid economic growth and rising energy demand. On the other, we are committed to energy transition, sustainability and decarbonisation. In between lies coal — indispensable today yet constantly competing with solar, wind, hydro and nuclear energy.”
Industry leaders emphasised that irrespective of the energy mix, affordability remains critical.
Pankaj Sapate, Executive Director (Fuel), Maharashtra State Power Generation Company Limited, stressed that power tariffs must remain competitive, particularly with the rise of energy-intensive data centres.
“To power data centres, electricity must not only be green but also affordable,” he said.
Raj Bandhu Santosh, VP – Fuel Management at Adani Power Limited, reiterated coal’s continued importance.
“Despite the rapid rise of renewable energy, coal remains reliable, cost-effective and available round the clock. It continues to be the backbone of India’s energy security.”
Wider Sectoral Deliberations
Sessions during the day assessed coal demand trends across sectors including power, cement and sponge iron. The conference will also deliberate on logistics optimisation, mining technology upgrades, sustainable equipment deployment and operational innovations.
The event will conclude with networking engagements and the ICMC Awards ceremony.
