Coal production in India has not been commensurate with the growing energy demand. As a result, import dependence has increased, which has exposed the economy to higher prices and geopolitical risks. Coal India Limited, the monopoly public sector producer, is saddled with the problems of low productivity. Private sector participation in the sector is limited and restricted to captive mining. The aim of this article is to use a tool called “Discourse Network Analysis” and structurally analyse the configuration of debate on privatisation versus nationalisation from 1997 to 2013.