New Delhi, Feb 14: India's nuclear sector has grown significantly over the last ten years from 4,780 MW in 2014 to 8,180 MW in 2024 and is poised to accelerate further after agreements signed during Prime Minister Narendra Modi's visit to France backed by a stepped-up allocation in the Union Budget.

To accelerate small modular nuclear (SMR) development, Rs 20,000 crore has been allocated in the 2025-26 Union Budget, with the target of designing and operationalising at least five indigenous SMRs by 2033.

India and France have signed an agreement to work together on developing SMR reactors, which are the next big thing changing the way nuclear power is deployed.

PM Modi and French President Emmanuel Macron emphasised the importance of nuclear energy for strengthening energy security and transitioning towards a low-carbon economy.

India and France have also teamed up for the Jaitapur Nuclear Power Plant which is set to become the world's largest nuclear power station, generating as much as 10 GW of electricity.

Besides, PM Modi is expected to discuss potential nuclear investments by US firms during his current visit to Washington.

India has a huge thorium advantage to propel its nuclear energy ahead in the future. The country holds 21 per cent of the world's thorium reserves, making it one of the most resource-rich nations for future nuclear energy development.

India is also playing a key role in the global push towards nuclear fusion, a revolutionary technology that could provide unlimited, clean energy without long-term radioactive waste. As a full member of the International Thermonuclear Experimental Reactor (ITER) project, India contributes 9 per cent of the project's costs and is actively involved in research and engineering.

Prime Minister Modi and President Macron, jointly visited the International Thermonuclear Experimental Reactor [ITER] at Cadarache in France this week. This was the first visit by any Head of State or Head of Government to ITER - one of the most ambitious fusion energy projects in the world today.

During the visit, the leaders appreciated the progress of ITER, including the assembly of the world’s largest Tokamak, where ultimately 500 MW of fusion power will be produced by creating, containing and controlling burning plasma. The leaders also appreciated the dedication of the ITER engineers and scientists working on the project.

India is among the seven ITER members contributing to the project over the last two decades. Around 200 Indian scientists and associates, as well as notable industry players such as L&T, Inox India, TCS, TCE, HCL Technologies, among others, are engaged in the ITER project.

India's nuclear power is expanding rapidly, fueling economic growth, reducing dependence on fossil fuels and strengthening energy security. With an increasing focus on indigenous technology, advanced reactors and global partnerships, India is building a strong foundation for a cleaner and more self-reliant energy future, according to an official statement.

--IANS

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