Union Finance Minister Nirmala Sitharaman met a US nuclear delegation, showcasing India's reforms like the SHANTI Act and 49% FDI to boost foreign investment and accelerate the country's clean energy transition in the nuclear sector.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday met a high-level delegation representing the U.S. nuclear industry in New Delhi and highlighted India's reforms in the nuclear energy sector aimed at accelerating clean energy transition and boosting foreign investment. The delegation included representatives from the Nuclear Energy Institute (NEI), leading U.S. companies and the U.S.-India Strategic Partnership Forum (USISPF).
During the meeting, Sitharaman highlighted the landmark Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act and outlined the reforms introduced under the framework. In a social media post, the finance ministry stated, "Union Minister for Finance & Corporate Affairs Smt. @nsitharaman met with a high-level delegation representing the U.S. Nuclear Industry comprising representatives of the Nuclear Energy Institute (NEI) leading US companies, and U.S.-India Strategic Partnership Forum @USISPForum, in New Delhi, today".
Reforms to Boost Foreign Investment
According to the Finance Ministry, the reforms under the SHANTI Act are expected to accelerate India's clean energy transition, deepen technology partnerships and enhance investment flows into India's nuclear ecosystem.
The Finance Minister also informed the delegation that India has now allowed Foreign Direct Investment (FDI) of up to 49 per cent in nuclear power projects as part of recent policy initiatives aimed at encouraging global participation in the sector. The move is expected to open new opportunities for international companies looking to participate in India's growing nuclear energy market.
Focus on Technology and Strategic Partnerships
During the discussions, Sitharaman emphasised that technology collaborations and strategic partnerships can play a major role in strengthening innovation and resilience in India's nuclear ecosystem. She encouraged the participants to actively explore opportunities for engagement and long-term collaboration in the nuclear energy sector.
The Ministry stated, "FM Smt. @nsitharaman emphasised that technology collaborations and strategic partnerships can serve as critical drivers of innovation and resilience in India's nuclear ecosystem"
The meeting comes as India continues to focus on expanding clean and sustainable energy sources to meet rising power demand while reducing carbon emissions. The government has been taking several policy measures in recent years to increase private and foreign participation across strategic sectors, including energy and infrastructure. India's push towards clean energy transition has also increased focus on renewable and nuclear energy development as part of long-term energy security plans. (ANI)
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