Noting that India has made it possible to let investments in via the SHANTI Act in the nuclear energy sector, he said that India and the US can work together in the sphere to ensure energy security.
Earlier in the day, Union Minister of Power and Housing & Urban Affairs ML Khattar along with Minister of State (Independent Charge) for Science & Technology and Minister of State in the DAE (Department of Atomic Energy) Dr. Jitendra Singh participated in an interaction with the visiting US Nuclear Executive Mission delegation organised by the USISPF and the NEI (Nuclear Energy Institute).
The discussions focused on strengthening India-US cooperation in the nuclear energy sector, including reducing financing costs, improving construction timelines and supporting long term energy security goals.
The Ministry of Power posted on X, “India reiterated its commitment towards affordable, reliable and safe nuclear power with highest standards of safety, security and regulatory oversight as the country progresses towards its vision of 100 GW nuclear capacity by 2047.”
Former Indian Ambassador to the US and former Foreign Secretary, Harshvardhan Shringla termed the adoption of Shanti Bill a major milestone to attract domestic and foreign investment.
Speaking to CNBC-TV18 on the sidelines of an event in New Delhi, he said that aligning closely to the Paris Convention has reassured investors of the issue of nuclear liability, adding that the ground rules that will be set will be consistent with India’s endeavour to draw in domestic and foreign capital.
Stating that nuclear energy will be an important part of the energy mix to reduce dependency on fossil fuels to provide base load for 24×7 uninterrupted power supply to cutting-edge technologies, artificial intelligence, LLM, data centers, and global capacity centers, he stressed on the need to ensure that critical supplies of energy come in from different geographies.
Indicating that the West Asia crisis brought to the fore that one shouldn’t have overdependence on one region, he said imports from Australia, Russia, West Asia, Africa, and the Americas are very critical along with a need to look at all options to get diversified source of imports.
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(Edited by : Navneet Singh)
