FM Sitharaman invites US nuclear firms to explore long-term partnerships in India
New Delhi, May 19
Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday met a high-level delegation representing the U.S. nuclear industry in New Delhi and highlighted India's reforms in the nuclear energy sector aimed at accelerating clean energy transition and boosting foreign investment.
The delegation included representatives from the Nuclear Energy Institute (NEI), leading U.S. companies and the U.S.-India Strategic Partnership Forum (USISPF).
During the meeting, Sitharaman highlighted the landmark Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act and outlined the reforms introduced under the framework.
In a social media post, the finance ministry stated, "Union Minister for Finance & Corporate Affairs Smt. @nsitharaman met with a high-level delegation representing the U.S. Nuclear Industry comprising representatives of the Nuclear Energy Institute (NEI) leading US companies, and U.S.-India Strategic Partnership Forum @USISPForum, in New Delhi, today".
According to the Finance Ministry, the reforms under the SHANTI Act are expected to accelerate India's clean energy transition, deepen technology partnerships and enhance investment flows into India's nuclear ecosystem.
The Finance Minister also informed the delegation that India has now allowed Foreign Direct Investment (FDI) of up to 49 per cent in nuclear power projects as part of recent policy initiatives aimed at encouraging global participation in the sector.
The move is expected to open new opportunities for international companies looking to participate in India's growing nuclear energy market.
During the discussions, Sitharaman emphasised that technology collaborations and strategic partnerships can play a major role in strengthening innovation and resilience in India's nuclear ecosystem.
She encouraged the participants to actively explore opportunities for engagement and long-term collaboration in the nuclear energy sector.
The Ministry stated, "FM Smt. @nsitharaman emphasised that technology collaborations and strategic partnerships can serve as critical drivers of innovation and resilience in India's nuclear ecosystem"
The meeting comes as India continues to focus on expanding clean and sustainable energy sources to meet rising power demand while reducing carbon emissions.
The government has been taking several policy measures in recent years to increase private and foreign participation across strategic sectors, including energy and infrastructure.
India's push towards clean energy transition has also increased focus on renewable and nuclear energy development as part of long-term energy security plans.
— ANI
Reader Comments
I'm cautiously optimistic. Nuclear energy is great for base load power but we need strict safety protocols and liability frameworks. The US companies have good tech but we must ensure India's atomic energy regulatory standards are followed.
Finally some action on the nuclear front! We've been talking about this since the 2008 US-India civil nuclear deal. Hope this time the partnerships actually materialize and we see new plants coming up. Clean energy transition needs this push. 🇮🇳
Question is - will US companies accept India's nuclear liability law? That's always been the sticking point. Without clarity on supplier liability, these partnerships might remain just talks. We need a pragmatic solution that protects both interests.
This is excellent for India's clean energy goals! Nuclear power doesn't depend on weather like solar and wind. With 49% FDI allowed, we'll see technology transfer and local manufacturing. SHANTI Act seems well thought out. Hope this accelerates our energy transition! 🌿
Good that FM is reaching out globally, but let's not forget about our indigenous nuclear program too. We have our own reactors and technology. Foreign partnerships should complement, not replace, our domestic capabilities. A balanced approach is needed.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.