Energy is an important determinant of sustained growth, economic stability and prosperity of a rapidly developing country. In India, energy projections to sustain economic growth in excess of 8% suggest an installed capacity requirement of 800 GWe by the year 2032. Undoubtedly, the country is exploring all options to ensure energy security.
In this context, the Indian government has taken a strategically important decision to formally recognize the inevitability of nuclear power and accelerate alignment of the country’s civilian nuclear power program with the global renaissance in this field through mechanisms such as the Indo-US nuclear deal.
In addition to triggering exponential growth in the domestic nuclear power industry, such politico-economic events also herald the country’s participation in global civilian nuclear commerce. Various research reports peg the value of such business opportunities at USD 150 billion over the next decade. Emergence of such opportunities coincides with increased global recognition of Indian engineering talent and specific efforts by domestic industry to penetrate various markets. As a result, every civilian nuclear power project in the world can potentially provide business opportunities in various shapes and forms to Indian industry.