Modi govt stands firm in coal faceoff as unions call off strikes
Coal India's five major unions were protesting the government's plan to end the state's monopoly on selling coal
New Delhi
INDIAN Prime Minister Narendra Modi faced down the first major opposition to his economic agenda as coal unions called off a two-day-old strike that had threatened to paralyse the nation.
The unions at the world's biggest coal miner, Coal India Ltd, agreed to end the planned five-day action late Tuesday after a seven-hour meeting with Coal and Power Minister Piyush Goyal in New Delhi. The government will establish a committee with labour representatives on it to look into the unions' demands, Mr Goyal said. Concerns over the potential privatisation of Coal India were "unfounded", he said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply