New Delhi, India — India’s coal stocks fell below the $100-a-barrel price target and its economy suffered a blow as the global price of coal surged to a six-year high.

India had been on a steep upward trend for months as it pushed ahead with plans to expand its coal sector as it struggles with a high debt load and economic downturn.

The stock market in the country’s largest producer of the fuel, known as the coal oven pizza or coal gasification (CPG), fell 3.8% to a record low of $97.23 per barrel in afternoon trading on Thursday.

But the rout quickly reversed.

Traders said the rally was the result of a strong economic recovery that has led to rising inflation and reduced demand for coal.

The central bank had kept its benchmark interest rate unchanged at 6.5%.

India has been investing heavily in coal over the last few years and now it is the biggest importer of coal in the world.

Prime Minister Narendra Modi had pledged to revive India’s coal sector in the second half of the year, a policy he said would result in a 7% growth in the value of the economy.

That is largely due to an explosion in the demand for power, which has led the economy to grow by 7% a year on average since 2014.

China has overtaken India as India’s top coal consumer and India is now the second-biggest importer after China.

While the global coal price rose to $102 a barrel on Thursday, India’s stock market fell 2.5% in the same time period to $88.77 per barrel.

Coal prices have been a major factor in India’s economic woes.

A rise in prices has led some of the countrys largest manufacturers of the green coal, known by its more familiar name coal oven or CPG, to close their plants.

There are concerns that if they continue to close plants, it could slow the pace of India’s massive economic recovery.

Some companies are also trying to avoid investing in coal plants.

A new company is trying to create a coal factory in the southern Indian city of Chennai that could eventually employ about 5,000 workers, according to a statement from the company.

In India, the economy has been struggling to shed debt.

The country’s debt-to-GDP ratio, the ratio of its debt to gross domestic product, rose to 124% in March, up from 103% a month earlier.

On Thursday, the stock market closed at $77.90, up 5.6%.

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