"We are withdrawing the strike and are finalizing the resolution," All-India Trade Union Congress's (AITUC) Indian Mine Workers Federation leader Ramrendra Kumar said, as quoted by The Hindu.
The five largest coal mining industry trade unions in India went on a five-day strike Tuesday protesting against the government's Coal Mines Bill which was to allow private coal mining companies to operate. In addition, the legislation would authorize selling a stake in state-owned Coal India Limited (CIL). The two decisions are considered to be a threat to industry employees.
The strike, the biggest since the 1980s, resulted in the loss in output of 1.5 million tons of coal. It also risked interrupting the electricity supply in several of India's states, according to the Hindu.
The Indian coal mining industry is a state monopoly. Due to a lack of modern technology and overall inefficiency; India, despite huge internal reserves, had to import coal from abroad to meet the demands of local consumers, according to national media. The Coal Mines Bill was introduced by Minister Goyal in 2014 with the aim of overcoming the crisis by liberalizing India's energy industry and creating additional jobs, according to The Hindu.