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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Addressing the gathering, Dr. Ajit Kumar Mohanty said, "The integration of nuclear energy with emerging
clean energy technologies such as hydrogen production represents a strategic pathway towards a
sustainable energy future. Nuclear power, with its unique ability to provide reliable carbon-free electricity
as well as high-temperature process heat, is ideally suited to support large-scale hydrogen production
while contributing to India's energy security, decarbonization goals and long-term sustainable
development objectives. I congratulate the scientists, engineers and technical teams of BARC and IGCAR
whose sustained dedication, innovation and technical excellence have transformed an advanced scientific
concept into an operational reality. This achievement is a testament to India's growing capabilities in
advanced nuclear technologies and clean energy systems."

IGCAR, one of India's premier nuclear research institutions under the Department of Atomic Energy, has
been at the forefront of the country's Fast Breeder Reactor programme since its establishment in 1971.
The Centre successfully designed, constructed and operated the Fast Breeder Test Reactor, which has
served as an invaluable platform for the development and validation of fuels, materials and sodium
technologies for more than four decades. The knowledge and expertise generated through FBTR have laid
the technological foundation for India's fast reactor programme and played a pivotal role in the
development of the 500 MWe Prototype Fast Breeder Reactor (PFBR), the flagship of the second stage of
India's three-stage nuclear power programme.

Shri Sreekumar G. Pillai, Director, IGCAR, said, "This achievement builds upon more than four decades of
operational experience and technological excellence gained through the Fast Breeder Test Reactor
programme at IGCAR. The successful demonstration of hydrogen production using nuclear process heat
showcases the versatility of advanced nuclear systems and underscores IGCAR's commitment to
developing innovative technologies that contribute to India's clean energy transition and long-term
energy security."

Over the years, IGCAR has established internationally recognised capabilities in reactor physics, thermal
hydraulics, advanced materials, sodium technology, fuel cycle research, instrumentation and control
systems, remote handling, non-destructive evaluation and high-temperature engineering. Its
contributions continue to strengthen India's technological self-reliance and reinforce the nation's position
among the global leaders in advanced nuclear technologies.

The inauguration of the facility marks a major step towards realizing the vision of AtmaNirbhar Bharat
through the convergence of nuclear energy and clean hydrogen technologies. It demonstrates DAE's
continued commitment to indigenous innovation and reinforces India's resolve to build a sustainable,
secure and low-carbon energy future for Viksit Bharat.

18. Empowering India’s Energy Markets: Coal Exchange for Viksit Bharat

In a significant step towards modernizing India's coal supply chain, the Government has paved the way
for the establishment of Coal Exchanges in the country. The recently enacted Mines and Minerals
(Development and Regulation) Amendment Act, 2025 introduced the concept of a Mineral Exchange and
empowered the Central Government to promote transparent and efficient trading of minerals, including
coal and its processed forms. In pursuance of the above, the Coal Exchange Rules, 2026 have been

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