India shelves coal import plan as high global prices, weak rupee raise costs

India has shelved a proposal to make power plants import coal to replenish dwindling stockpiles, as elevated international prices and a weaker rupee have increased the cost of overseas shipments, Bloomberg reported on Monday, citing people familiar with the discussions.The government had recently considered asking power plants to blend imported coal with domestic supplies to ease the fuel shortage. However, the proposal was put on hold because of the high cost of imports, the report said.Policymakers have instead asked state-owned Coal India Ltd to increase production and the railways to ensure timely transportation of coal to power stations, according to Bloomberg.The decision comes as coal inventories at Indian power plants have fallen to their lowest level in nearly five years, with higher electricity demand and reduced hydropower generation putting pressure on domestic supplies.Coal stocks remain under pressureNearly half of India's power plants had critically low coal inventories as of October…