Changes in India’s nuclear policy: The Government of India is preparing to make a major and historical change in the country’s civil nuclear power sector. The central government is now considering opening nuclear power production to private companies, which was completely limited to the public sector so far. Two important legislative amendments in this regard are expected to be introduced in the upcoming monsoon session of Parliament. The purpose of the proposed reforms is not only to open the doors of investment, but also to pave the way for the complete implementation of the Indo-US civil nuclear power agreement and bring world class nuclear power technology to India.
Two major reforms planned
The amendments that can be introduced in Parliament will be mainly focused on two issues:
1. Relaxation in the Civil Living for Atomic Damage Act, 2010:
According to this Act, equipment suppliers, ie companies, are responsible for heavy compensation in the case of an accident in the nuclear power plant. This caused many international companies to hesitate to invest in India. According to the proposed amendment, this obligation will be subject to the financial limit and time limit, so that the obligation of equipment vendors can be limited.
2. Private companies have an opportunity to participate in nuclear power projects:
This amendment will open the way for Indian private companies to invest directly in nuclear power production for the first time, while foreign companies will also be allowed to participate to a limited extent. This step will be important in bringing state -of -the -art nuclear power technology, capital and expertise in India.
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History and background
The establishment of India’s civil nuclear power sector came into the global discussion in 2005 under the leadership of Dr. Manmohan Singh. However, the Civil Liability Act implemented in 2010 created obstacles in investment. Companies such as GE-Hitachi, Westinghouse and French company Areva (now Fametome) showed reluctance in setting up projects in India. According to this law, there is a provision to compensate the victims in the event of an accident, but since the suppliers have a direct responsibility, they avoid taking risks.
An opportunity to accelerate India’s nuclear power capacity
Given India’s growing energy requirements and moving steps towards green energy, nuclear power is an important source. Along with solar and wind energy, nuclear power also provides stable, clean and efficient energy. However, nuclear power has not been enough expanded due to limited investment from government agencies and slow pace of projects. Increasing participation of private and foreign investors is expected to increase the number of nuclear power plants, expansion of production and modernization of technology.
Decision in terms of trade agreement with America
This amendment will also be important in the context of the ongoing bilateral trade agreement between the US and India. Opening the nuclear power sector can be an important step for the US to get long -term business opportunities in India.
Law reform is a policy revolution
These reforms are not only legal changes, but can be a revolutionary step in India’s nuclear power policy. Opening gates for private and foreign investment, ensuring accountability and technology transfer will be important for India’s energy future. There are clear indications that if this bill is introduced in the upcoming session of Parliament, India will start a new era in the field of nuclear power.
