India's domestic nuclear industry growing at a fast pace

The much waited signing of the Indo-UK nuclear pact points to the growth of India’s domestic nuclear industry. The Modi government also announced the conclusion of processes to implement Indo-Australian civil nuclear deal.

The Indo-UK nuclear pact, sealed five years after declaration, is significant as it would enable industrial collaboration between two countries including sharing of views as US Nuclear major Westinghouse is building nuclear power plants in both Britain and Gujarat. Besides Indo-UK cooperation would entail joint research in nuclear science and technical level cooperation, senior officials told ET.

India now has civil nuclear cooperation with four out of five permanent members of UN Security Council (UNSC). India has growing nuclear energy partnership with France and contemplating an arrangement with Spain. However, French nuclear major Areva which is building nuclear power plant in Jaitapur (Maharashtra) is undertaking internal changes and this has slowed commercial negotiations with Nuclear Power Corporation of India Limited.

All are waiting with bated breath for the Indo-Japanese Inter Governmental Agreement - when PM Shinzo Abe visits India mid-December for the annual Summit .

The nuclear deal with Japan will push for the Indo-US nuclear deal and Westinghouse's proposed plant in Gujarat. Japan's industry major Toshiba has major stakes in Westinghouse.

The December will also see the arrival of the first tranche of uranium from Canada after four decades following conclusion of commercial agreement during the PM's trip to Toronto last April.

(Image credits: Indiatimes)