New Delhi to allow foreign investment in nuclear energy
BENGALURU: India on Saturday proposed to amend its nuclear liability law to boost foreign and private investments in the much-guarded sector, ahead of Prime Minister Narendra Modi’s US visit.
The announcement was part of Indian Finance Minister Nirmala Sitharaman’s budget on Saturday.
Strict liabilities under India’s Civil Liability for Nuclear Damage Act, 2010, have hampered implementation of the India-US nuclear deal that envisaged participation of US power plant makers such as General Electric and Westinghouse.
The White House last week said that the plan for Modi’s US visit was discussed when he called President Donald Trump.
“For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up,” Sitharaman said in her budget speech, without giving more details.
The Atomic Energy Act of 1962 bars private investments in India’s nuclear power plants.
Published in Dawn, February 2nd, 2025