The most awaited and hailed nuclear deal signed two decades earlier has finally reached its last stage and will be functional soon. After the US Department of Energy cleared the nuclear deal on 26 March, the deal allowing US companies to build nuclear facilities in India was ratified.
It allows Holtec, based in the USA, to transfer “unclassified small modular reactor technology” to Indian companies, including its Asian subsidiary Holtec Asia, Tata Consulting Engineers Ltd, and Larsen & Toubro Ltd, with specific conditions. The deal conforms with IAEA standards and the Indian government’s assurance over the peaceful use of the technology given on March 3, 2025. “Peaceful nuclear activities under International Atomic Energy Agency safeguards and not for nuclear weapons or other nuclear explosive devices or for any military purpose”.
The deal also includes conditions of non-transfer of technology to any other entity other than those mentioned above and for purposes other than those mentioned in the document. Holtec International promoted by Indian-American Krish P Singh is required to file a quarterly report to the DoE concerning the technology transferred under the deal.
Amidst the uncertain global scenario led by the United States, where Trump’s administration is poised to increase tariffs to protect domestic manufacturers, this deal is a great achievement for India as it strengthens its diplomatic ties with the US and acts as a major step towards the India-US 123 Civil nuclear agreement talks for which began in 2007.
Ever since its inception, no progress has been made on this highly anticipated deal and the latest round of talks is the only hope for investment and partnership in the future.
