Since the beginning of industrialization in the 19th century, coal had a significant impact on global energy supply. Today, coal is one of the leading sources of energy among all types of fossil fuels. India also has a long history of commercial coal mining, which covers more than 240 years. The Indian coal industry, founded by the East India Company in the Ranigandj coal basin on the west bank of the Damadar River in 1774, has been developing steadily over the centuries. With the adoption of the Coal Mines Act of 1973, all coal mines in India were nationalized, which otherwise would have been primarily a private enterprise. Coal India Limited (CIL) was subsequently founded on November 1, 75, as a new public company to provide better organizational and operational efficiency in the coal sector. Currently, CIL is the largest coal mining company in the world, producing 554.14 million tons (tons) in 2016-1917, or 84% of the total coal production in the country. However, the commercial production monopoly that Coal India used after nationalization in 1973 was broken by the government on February 18, which allowed private firms to introduce commercial coal mining.