India is yet to come of age as far as the nuclear sector is concerned due to sustained lack of support from the International Atomic Energy Agency (“IAEA”), and exclusion from the Nuclear Non-Proliferation Treaty (“NPT”) and Nuclear Suppliers Group (“NSG”). In 2014, a few nuclear reactors like Narora, Kudankulam and Kakrapar were brought under the IAEA safeguards. However, the Additional Protocol of 2014 allowed the IAEA enhanced access to India’s facilities, but this was limited to only the reactors included under the safeguards. As a result, a majority of nuclear power plants in the country are still untapped, which has led to a bearish curve in the investment inflows in the country, on account of lack of both financial commitments and savvy technology.
Globally, the United States of America (“US”), France, Russia, South Korea and China are also among the biggest nuclear power generating countries. Out of their energy pool, nuclear energy comprises of one-fifth of the energy usage for US and Russia, seventy five percent for France, thirty percent for South Korea and four percent for China. For India, nuclear energy consists of three percent of its energy pool, and is predicted to rise to six percent by 2030.
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