Finance Minister Nirmala Sitharaman held discussions with a high-level delegation from the US nuclear industry, including representatives from the Nuclear Energy Institute (NEI), major US companies, and the US-India Strategic Partnership Forum in New Delhi. She stressed the importance of technology collaborations and strategic partnerships in driving innovation and resilience in India’s nuclear sector. Sitharaman also highlighted recent policy changes allowing up to 49% Foreign Direct Investment in nuclear power projects.
India marked a significant milestone with the commissioning of the 500 MWe Prototype Fast Breeder Reactor (PFBR) at Kalpakkam in Tamil Nadu, making it the second country, after Russia, to operate a commercial-level fast breeder reactor. This achievement aligns with India’s plans to utilize its thorium reserves in the third stage of its nuclear strategy. While Russia currently operates commercial fast breeder reactors, India is progressing towards commissioning its own.
The Finance Minister outlined the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, introducing reforms to accelerate India’s clean energy transition and attract more investment into the nuclear ecosystem. With nuclear energy playing a vital role in India’s clean energy goals, initiatives like Small Modular Reactors (SMRs) and the Nuclear Mission, with a budget of Rs 20,000 crore, aim to enhance the country’s nuclear power generation capacity.
