Use of gas in India: It will not be all that easy to push out coal

Coal is still an affordable fuel for a developing country like India and even if it seems to currently be in a happy position with an increase in domestic supply and stagnant demand, projections show India as the largest contributor to incremental sea borne coal import demand up to the year 2030.
Sea borne thermal coal demand will continue to rise even as the Chinese appetite for coal slows down dramatically.

Everyone speaks of a cut in E&P spending but global capital spending for coal declined 13% in 2015. In 2016, capital expenditure declined by 9% to $27 billion due to further projects push back.
Coal prices have made a surprising recovery from around $40 in 2015 to over $100 pre tonne now.
What is going on with the market?

Source: Indian PetroPlus