New Delhi: The US-India Strategic Partnership Forum (USISPF) held a virtual briefing for its nuclear industry committee on the recently drafted rules and regulations under the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (Shanti) Act, with discussion highlighting the implications of opening India’s nuclear sector to private participation.
The briefing brought together senior industry leaders from across the nuclear value chain and examined the key factors of the Draft Shanti Rules and Draft Shanti Regulations, their impact on private sector entry, licensing, liability and project structuring, as well as areas where the industry may seek changes or clarification from the government, USISPF said in a post on X.
The virtual briefing featured Suhaan Mukerji of Delhi-based PLR Chambers and Ted Jones, senior director for National Security and International Programmes at the Nuclear Energy Institute (NEI), as expert speakers.
The draft framework is the first detailed set of rules for implementing the Shanti Act. It will open new routes for private companies to enter several areas of India’s nuclear sector while retaining government oversight of sensitive activities. The rules cover areas including licensing, insurance, approvals and other regulatory requirements.
What the Shanti Act means for private nuclear companies
The Shanti Act allows private companies and joint ventures to build, own and operate nuclear power plants. It also permits them to undertake decommissioning activities and nuclear research and development.
Beyond power generation, the legislation allows private participation in the manufacture of nuclear fuel and the use of ionizing radiation for non-power applications in sectors such as medicine and agriculture, as well as other industries.
The USISPF briefing comes as American nuclear companies assess the opportunities created by India’s new nuclear framework. Earlier this year, the forum led a delegation of US nuclear industry representatives to India to explore opportunities in the country’s civil nuclear sector.
India has set a target of increasing its nuclear power generation capacity to 100GW by 2047. The country also plans to develop at least five indigenous small modular reactors (SMRs) by 2033. SMRs are advanced nuclear fission reactors designed to generate up to 300MW of electricity.
USISPF said it is now coordinating a comprehensive submission from the US nuclear industry to the Department of Atomic Energy (DAE), Government of India, by the September 4 deadline. The DAE released the draft rules and regulations last week and invited comments from industry and other stakeholders.