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Nuclear Power to Play a Pivotal Role in India Despite Challenges

Nuclear Power to Play a Pivotal Role in India Despite Challenges

Summary

India's promising nuclear power program is expected to support its aim to become a global nuclear power. Demand for power currently exceeds availability, leading to major issues such as a limited power supply, a poor quality power service and frequent power outages. The majority of demand is met by burning fossil fuels, which contributes to global warming. India sees nuclear power as the most feasible, affordable and secure way of addressing the growing demand. The aim of the three-stage nuclear program, originally developed in the 1950s, is to utilize the country's uranium and thorium reserves to their maximum extent. India's weapons program means that it has never joined the Nuclear Non-Proliferation Treaty (NPT), excluding it from the trade of nuclear plants or materials, but in 2008, the Nuclear Suppliers Group (NSG) agreement opened up opportunities for trade with countries such as Canada, South Korea, France and Russia. Following this, international co-operation agreements were signed with the US and Australia in 2008 and 2014 for the trade of nuclear fuel and equipment. The government of India has supported nuclear power expansion initiatives by allocating $1.7 billion to the Department of Atomic Energy (DAE), of which INR87.4 billion ($1.4 billion) will be used for nuclear research and the rest for nuclear power generation.

Scope

- The role of Nuclear Power in Indian Power Sector
- Three Stage Nuclear Power Program
- Nuclear Suppliers Group(NSG) Agreement

Reasons to buy

- Gain insights about how Nuclear growth is supported by Three Stage Nuclear Program and Nuclear Suppliers Group Waiver.
- Identify the benefits of International Co-operation Agreements with US and Australia
- Identify the Capacity expansion plans and investment initiatives by foreign companies and the Indian government.
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Nuclear Power to Play a Pivotal Role in India Despite Challenges
Published By :GlobalData
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