India's Nuclear Energy Revolution: Private Sector Entry to Boost Energy Security

Prime Minister Narendra Modi announced the opening of India's nuclear power sector to private players, aiming to enhance energy security by increasing nuclear power capacity to 100 GW by 2047. This reform will foster opportunities in advanced nuclear technologies and is coupled with legislative changes to support private involvement.

In a groundbreaking move, Prime Minister Narendra Modi revealed plans to open India's nuclear power sector to private companies, signaling a significant shift in the nation's energy strategy. This development promises to bolster India's energy security and technological leadership.

Modi's announcement came during an event inaugurating Skyroot Aerospace's Infinity campus, highlighting the government's ambitious target of achieving 100 GW of nuclear power capacity by 2047—more than ten times the current capacity of 8.8 GW. Such a leap aims to create opportunities in small modular reactors and advanced nuclear technologies.

The legislative framework for this initiative is set to evolve with the introduction of The Atomic Energy Bill, 2025 in the Winter session of Parliament. This bill will ease restrictions for private sector participation, which were previously limited under the Atomic Energy Act, 1962. The Finance Minister has also indicated potential amendments to the nuclear liability law, all aimed at facilitating private sector engagement.

(With inputs from agencies.)