NPCIL-Westinghouse pact to unleash $ 150 bn nuclear energy industry

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The agreement between Corporation of India Ltd (NPCIL) and US firm to initiate preparatory work on six nuclear reactors in India is expected to unleash a $ 150 billion nuclear industry in India thereby creating jobs and ensuring access to clean and ensuring our energy security, said FICCI while welcoming the announcement.

The White House on June 7, 2016 said that and Westinghouse have agreed to begin engineering and site design work immediately for six nuclear power plant reactors in India and conclude contractual arrangements by June 2017.

This agreement, according to FICCI, will further cement 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 sector will send the right signals for the re-operationalisation of the domestic nuclear program which has been stalled for last two years on the nuclear liability issue. The finalisation of the Indian Nuclear Insurance Pool (INIP) policy for the operator augers well in this positive environment, FICCI now hopes that INIP for the supplier gets IRDA approval at the earliest, so the domestic program can be reinitiated.