What's Happening?
India's Parliament has passed new legislation that allows private companies to enter the civil nuclear power sector, marking a significant policy shift aimed at accelerating clean energy expansion. The
legislation, which has been approved by both houses of Parliament, awaits the formal assent of the Indian president. This move is part of India's strategy to become a major player in nuclear energy, particularly with small modular reactors, as countries worldwide reassess nuclear power to meet climate goals and reduce fossil fuel dependency. The government argues that the bill modernizes India's nuclear framework while maintaining safety and regulatory safeguards. However, opposition parties and activists have raised concerns about potential safety risks and the adequacy of liability provisions.
Why It's Important?
The approval of this legislation is crucial as it positions India to significantly expand its nuclear power capacity, aiming for 100 gigawatts by 2047. This expansion is part of India's broader efforts to reduce its reliance on fossil fuels, which currently account for over 75% of its energy production. By opening the sector to private investment, India hopes to attract technological and financial resources necessary for this transition. However, the move has sparked debate over safety and environmental concerns, with critics warning of potential health risks and insufficient safeguards. The outcome of this policy shift could influence global nuclear energy strategies and impact international climate change efforts.
