Al-Kuwari meets finance ministers of India, Turkiye, France

New Delhi: India must review its financing rules and workforce development to meet its goal of expanding nuclear power capacity to 100 gigawatts by 2047, according to officials and industry executives. The country's sovereign green bond framework, green deposit and financing rules currently exclude nuclear investments, as noted by Abhay Karandikar, a member of the influential NITI Aayog think tank.

India recently opened its tightly controlled nuclear sector to private companies to attract foreign technology and investment, with an estimated $210 billion needed for expansion from the current 8.8 gigawatts. Global financial institutions, including the World Bank, are reviewing potential support for nuclear projects, Karandikar reported at PowerGen India's event in New Delhi.

However, India's nuclear ambitions are hindered by foreign reactor technology limitations and a shortage of specialized education and training. Industry executives stated that nuclear courses are limited, with only a few premier institutes offering such programs. EDF Nuclear Projects India Pvt, managed by Kalirajan S, highlighted the lack of nuclear courses from school to university levels.

France's EDF has been running certification programs with Indian vendors and plans to expand them to foster a local nuclear supply chain. To address this, NITI Aayog has formed a committee to develop nuclear expertise across all levels, from technicians to research and development.