Declining Nuclear Market

Category
Economy
Published
27th Jun, 2019

Due to increase in the number of renewable energy sources and safety concerns, more countries have decided to move away from nuclear energy, which will lead to decommission of nuclear power plants. According to recent research, this specialised operations market will grow at 5 % during 2018-25.

Context

About

Department of Atomic Energy (DAE)

DAE is a department directly under the Prime Minister of India with headquarters in Mumbai. It was established in 1954 by a Presidential Order.
It has been engaged in the development of nuclear power technology, applications of radiation technologies in the fields of agriculture, medicine, industry and basic research.

Atomic Energy Regulatory Board (AERB)

AERB was constituted on November 15, 1983, by the President of India by exercising the powers conferred by the Atomic Energy Act, 1962 to carry out certain regulatory and safety functions under the Act.
The regulatory authority of AERB is derived from the rules and notifications promulgated under the Atomic Energy Act and the Environment (Protection) Act, 1986.

Nuclear Power Corp of India Ltd. (NCPIL)

NCPIL is an Indian public sector undertaking based in Mumbai.
It is wholly owned by the Government of India and is responsible for the generation of nuclear power for electricity. It is administered by the DAE.