India's nuclear plans advance, oil prices to stay high, and state polls begin

This episode of 'Three Things' covers three major developments shaping India's current landscape. First, it highlights a pivotal milestone in India's three-stage nuclear program with the successful criticality of the fast breeder reactor (FBR) at Kalpakkam, a key step toward leveraging the country's vast thorium reserves and achieving long-term energy self-reliance. The discussion with Anil Sasi of The Indian Express underscores the strategic importance of this reactor, its role in breeding more fuel than it consumes, and the broader implications for India's energy security amid uranium scarcity and global geopolitical risks. The episode then shifts to the persistent energy shock despite a temporary West Asia ceasefire, explaining why oil and gas prices remain elevated due to lingering risks in the Strait of Hormuz, damaged infrastructure, and disrupted supply chains. India's heavy reliance on the strait—especially for 55-60% of its natural gas and 54-55% of its LPG—has led to government interventions like prioritizing domestic gas and LPG for households, while diversifying imports from Russia, Venezuela, and Iran under U.S. sanctions waivers. Finally, the episode previews the first major round of state elections in Assam, Kerala, and Puducherry, analyzing the political dynamics, key players, and stakes, including the BJP’s push for a second term in Assam, the Left’s bid for a historic third term in Kerala, and the growing influence of the BJP in Puducherry’s alliance politics. The results for all five states will be declared on May 4th.