Manufacturing activity in the world’s fastest growing major economy slowed to its weakest pace in over a year. India’s imports of thermal coal – mainly used in power generation – fell for a sixth straight month in February, ship tracking data showed. This is the longest such streak since February 2022, when imports declined for eight consecutive months. Thermal coal prices have rebounded slightly in recent weeks after plunging to multi-year lows in 2025 amid market concerns about weaker global demand. However, they are still trading over 30% higher than levels seen in the second half of the previous decade, analysts and industry officials have flagged potential risks in the months ahead. The country’s coal-fired power generation stayed largely flat in the first two months of the year, with the country’s domestic production also increasing. While coal consumption is expected to pick up in the coming months as utilities prepare to address a surge in electricity consumption during the summer months between April and June, it might not necessarily lead to a pickup in imports.