FICCI welcomes the initiation of preparatory work on six Nuclear Reactors

FICCI welcomes the announcement of the initiation of preparatory work on six nuclear reactors in India between NPCIL and Westinghouse, which is expected to unleash a $ 150 billion nuclear industry in India thereby creating jobs and ensuring access to clean energy and ensuring our energy security. This step further cements the strategic relationship between the two nations reaffirming the “trusted partner” status that has been accorded to India in Defence & Aerospace.

FICCI feels these positive developments in Civil Nuclear Energy sector will send the right signals for the reoperationalisation of the domestic nuclear program which has been stalled for last two years on the nuclear liability issue. The finalization of the Indian Nuclear Insurance Pool (INIP) policy for the operator augers well in this positive environment, FICCI now hopes that the Indian Nuclear Insurance Pool (INIP) for the supplier gets IRDA approval at the earliest, so the domestic program can be reinitiated. FICCI has through it’s Civil Nuclear Energy working group has worked over the past few months, in evolving a consensus amongst all major suppliers of NPCIL including foreign technology players to agree on a draft supplier’s policy with the aim to put life into the domestic programme which is currently in coma.