India's Vision for Clean Energy: Nuclear Energy Mission & Green Manufacturing Boost
Key Ideas
- The FY26 budget for India focuses on energy transition with a Nuclear Energy Mission and an allotment of ₹20,000 crore for small modular reactor (SMR) research and development.
- India aims to achieve at least 100 GW of nuclear energy by 2047, emphasizing the importance of private sector partnerships and amendments to relevant acts.
- The budget also highlights support for green energy manufacturing, including solar PV cells, EV batteries, electrolyzers, wind turbines, and grid-scale batteries, promoting indigenization of the supply chain.
- Exemptions on customs duty for EV battery manufacturing capital goods, recovery policies for critical minerals, and reforms in the power sector indicate a positive push towards clean energy goals.
India's FY26 budget underlines a significant focus on energy transition and clean energy initiatives. Finance Minister Nirmala Sitharaman unveiled a Nuclear Energy Mission with a ₹20,000 crore allocation for small modular reactor (SMR) research and development. The country aims to reach a 100 GW nuclear energy capacity by 2047, with plans to involve the private sector and amend relevant acts for seamless partnerships. The budget also prioritizes green energy manufacturing, supporting sectors like solar PV cells, EV batteries, electrolyzers, wind turbines, and grid-scale batteries to enhance domestic value addition and promote self-reliance. Noteworthy initiatives include exemptions on customs duty for EV battery manufacturing capital goods, policies for critical mineral recovery, and power sector reforms. These measures signal a positive stride towards achieving India's clean energy goals and reducing dependency on fossil fuels.