India Seeks to Double its Nuclear Power
India’s lucrative civilian nuclear market is in need of developments, and has had foreign companies from USA, France and Russia trying to become the dominant payers for the market after a 2008 U.S. nuclear accord opened up global access to the Indian civil nuclear market. The market is estimated to be worth around $150 billion and over the next 20 years, India has said they would like to see the share of nuclear power to its grid double to 8%.
However Japan is expected to start talks with India over a civil nuclear energy deal according to Japans Foreign Minister Katsuya Okada, which will allow Japanese firms access to the Indian civil nuclear market. It is also expected that USA and France also have high hopes for the pact.
Currently Japanese firms can’t access the Indian market because of a lack of legal framework. Japans Foreign Minister has said there are Japanese firms who already know of projects in India where their technologies can be beneficial.
Japanese firms already have a history of partnering with foreign firms in joint developments for nuclear energy outside Japan and would like to do the same in India.
Previously Japan had been wary about negotiated a nuclear pact with India, but has now said they ‘can’t go against the international trend, referring to the 2008 agreement to lift a ban on nuclear trade with India. Negotiations are to be held in Tokyo between June 28th and 29th.
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- Nuclear cooperation talks with India eyed (search.japantimes.co.jp)