India's Nuclear Sector Set for Private Participation

The Indian government has approved a bill to open up the civil nuclear power sector for private participation, aiming for 100 GW by 2047. The SHANTI Bill, discussed in cabinet, aligns with the Nuclear Energy Mission to develop small modular reactors, backed by a budget of Rs 20,000 crore.

The Indian government, on Friday, cleared a significant bill intended to liberalize the nation's closely regulated civil nuclear power sector. This landmark decision aims to infuse private investment as India targets a 100 GW atomic energy capacity by the year 2047.

The Union Cabinet, under the leadership of Prime Minister Narendra Modi, granted approval to the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill. This approval comes as part of broader efforts to enhance the country's energy footprint.

Earlier this year, Finance Minister Nirmala Sitharaman announced a strategic plan to welcome private sector participation into the nuclear power arena during her Budget speech. She outlined the Nuclear Energy Mission, which includes a substantial investment of Rs 20,000 crore for the research and development of small modular reactors (SMRs), with the aim to operationalize five indigenous SMRs by 2033.

(With inputs from agencies.)