Page 32 - The Insurance Times September 2022

INSURANCE &

REINSURANCE OF

NUCLEAR POWER

PLANTS

ndia has a largely indigenous nuclear power in northern India, will come up 150 kms away from Delhi in
I programme. The Indian government is committed to Gorakhpur of Haryana. By 2024, India will have nine nuclear
reactors plus 12 new additional ones which were approved
growing its nuclear power capacity as part of its
massive infrastructure development programme. The
government has set ambitious targets to grow nuclear during the Covid times with a capacity of 9000 MW. India is
counting on its nuclear program to help meet its Paris
capacity. Because India is outside the Nuclear Non- climate commitments to reduce the emissions intensity of
Proliferation Treaty due to its weapons programme, it was its economy by a third from 2005 levels by 2030. Earlier,
for 34 years largely excluded from trade in nuclear plant and most of our nuclear projects were with the support of Russia
materials, which hampered its development of civil nuclear and France and now more and more of our reactors are
energy until 2009. becoming indigenous.

Due to earlier trade bans and lack of indigenous uranium,
India has uniquely been developing a nuclear fuel cycle to
exploit its reserves of thorium. Since 2010, a fundamental
incompatibility between India's civil liability law and
international conventions limits foreign technology provision.
The scenario has changed now. The nation will have nine
nuclear reactors by 2024 and a new nuclear project, the first

About the author

Jagendra Kumar
Ex. CEO,
Pearl Insurance Brokers
Jaipur

32 The Insurance Times, September 2022