New Delhi to allow foreign investment in nuclear energy
2025-02-02
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 Electricand 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.