FM opens up N-power sector to pvt players

India will set up Nuclear Energy Mission for research and development of small modular reactors with an outlay of Rs 20,000 crore. At least five indigenously developed reactors would be operationalised by 2033, said Finance Minister Nirmala Sitharaman. Development of at least 100 GW of nuclear energy by 2047 is part of India’s long-term plan for power production.

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The FM proposed to open up the nuclear power sector for private participation. Amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act would be taken up, she said in Parliament. PM Narendra Modi described the decision to promote private players in the sector as “historic”. “This will ensure a major contribution of civil nuclear energy in development of the country in the coming times,” he said in his reaction to the Budget.

Modi said civil nuclear energy would ensure a significant contribution to the country’s development in future. Speaking at the Indian Institute of Technology, Delhi, last month, US National Security Adviser Jake Sullivan had said the US was finalising steps to remove roadblocks and remove Indian companies on the “entity list” to allow cooperation in civil nuclear area.