In a landmark event during Narendra Modi’s recent visit to Russia, the Eurasian powerhouse has agreed to help India build six more nuclear power plants. This is a significant development, especially considering that India could secure a supply of uranium from Russia to support its ambitious nuclear power energy plans.
India and Russia are exploring substantial growth in their nuclear power partnership. Rosatom, the Russian state nuclear corporation, announced ongoing discussions with India regarding the construction of these six new high-powered nuclear reactors.
This collaboration extends beyond just high-power plants. Rosatom is also looking into developing lower-power nuclear facilities within India. In addition, in April ’24, India received information on floating nuclear power plant solutions from Rosatom.
The potential expansion in nuclear power signifies a strategic move for both nations. It could provide India with a substantial boost to its energy security and economic development. According to Union Minister Dr. Jitendra Singh, India's installed nuclear power capacity is set to grow by around 70% in the next five years, from the current 7.48 GW to 13.08 GW by 2029. India plans to build close to 18 new reactors.
Moreover, by 2047, India aims to increase its nuclear power generation capacity to about 100 GW.
This expansion is part of India's broader strategy to diversify its energy mix and reduce its reliance on fossil fuels.
INDIA’S NUCLEAR ASPIRATIONS
India has set ambitious clean energy targets, aiming to increase the share of non-fossil fuel sources in its electricity generation mix to 40% by 2030, and to achieve a net-zero emissions target by 2070.
Nuclear power plays a crucial role in diversifying India’s energy mix away from fossil fuels such as coal and natural gas, which currently dominate the electricity sector.
هذه القصة مأخوذة من طبعة July, 2024 من Beyond Market.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July, 2024 من Beyond Market.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
PRUDENT PRACTICES
Banks worldwide navigate a complex balancing act, steering economies toward growth while safeguarding financial stability through thoughtful management of interest rates and credit risks
RETAIN ROULETTE
Inexperienced investors spin the market wheel, chasing dizzying valuations and risking a bubble burst
UNRAVELED THREADS
Bangladesh's crisis disrupts global textiles, offering India a potential opportunity, but production constraints limit its gains
PASSING THE BATON
Succession planning helps ensure uninterrupted leadership
RISKY BUSINESS?
SEBI's efforts to protect retail investors from derivatives market risks could inadvertently dampen market volumes
INFLATION-PROOF YOUR CHILD'S FUTURE
Inflation might be stealing your child's future, but children's mutual funds can be their superhero
EMBRACE UNCERTAINTY, SAYS MARKS
Howard Marks urges investors to embrace uncertainty, long-term thinking, and focus on controllables, shunning in his memo “The Folly of Certainty”
IMPORTANT JARGON
70% OF INDIVIDUAL INTRADAY TRADERS IN THE EQUITY CASH SEGMENT MAKE LOSSES, FINDS SEBI STUDY
AN ASCENT T'O NEW HEIGHTS
The IMF predicts India's economy to reach 55 trillion by 2047, driven by various economic indicators showing positive growth and government initiatives
CARRY TRADE CRASH: GLOBAL MARKETS REEL
Japan’s Policy Shift Sends Shockwaves Through Global Markets, Including India, as Yen Carry Trade Disintegrates
