New Delhi, July 22 -- India's coking coal import bill has plunged sharply over the last three years, as the country diversified its imports to Russia and the US, moving away from its top supplier, Australia, according to government data and industry experts. This trend came on the back of a softening of global coal prices.

In fiscal 2026, India imported coking coal worth $11.76 billion, nearly 39% lower than $19.2 billion in FY23. The import diversification started in fiscal 2023 when Russia, which started its war with Ukraine in February 2022, began offering discounts on its coking coal exports.

Coking coal, a high-grade metallurgical coal used to produce coke, the primary reducing agent in blast furnaces, is a critical input for steel...