MAY 20249COAL IMPORT REACHES 268 MILLION TONS IN FY24TECHVARIABLE LAUNCHES INNOVATIVE DATA MANAGEMENT SOLUTION WITH INTEGRATED GENAIIn FY24, India's coal imports witnessed a 7.7 per-cent increase, reaching 268.24 million tonnes (MT), primarily driven by favorable seaborne prices and anticipated growth in power demand during the sum-mer. This marked a rise from 249.06 MT recorded in FY23, as per data compiled by mjunction services, a B2B e-commerce company.March FY24 saw coal imports rise to 23.96 MT, up from 21.12 MT in the same month of the previous fis-cal year. Of this, non-coking coal imports amounted to 15.33 MT, compared to 13.88 MT in March FY23, while coking coal imports reached 5.34 MT, up from 3.96 MT a year earlier.Throughout FY24, non-coking coal imports to-taled 175.96 MT, surpassing the 162.46 MT imported in FY23, while coking coal imports stood at 57.22 MT, compared to 54.46 MT in the preceding fiscal year.According to Vinaya Varma, MD & CEO of mjunc-tion, the increase in coal import volumes was influ-enced by sustained softness in seaborne prices and ex-pectations of heightened demand during the summer months. However, with ample domestic coal availabil-ity, the continuation of strong import demand in the upcoming months remains uncertain.India's all-India coal production in 2023-24 reached 997.25 MT, marking an 11.65 percent growth over FY23. TechVariable, an upcoming leader in digital engi-neering solutions, today announced the ground-breaking launch of its new data lifecycle manage-ment product line, Data Steroid, designed to empower businesses of all sizes to not just create a data manage-ment framework but also unlock critical insights from their data in seconds. This brings efficiency, transparen-cy and the ability to make more informed decisions at ev-ery small and big step of the way of business processes.Data Steroid, a No-Code Platform, accelerates busi-ness Toward Generative AI by automating complex, re-source-intensive data pipelining and delivering struc-tured data compatible with analytics and AI-integrated solutions. It has the ability to work with 100+ connectors and can be utilised across industries.Similarly, Wordwise unlocks the power of generative AI with pre-built or custom ML-Ops Predictive Layer en-abling you to dig deep into organization's historical data for valuable insights, predict future trends and devise strategies on the go.This range of Data Lifecycle Management Tools (Data Steroid + Wordwise) brings a considerable change in how businesses can view data, fetch enriching context and utilize it in pivotal business scenarios. TOPSTORIES
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