India Opens Nuclear Power Sector to Private and Foreign Investment

India's parliament approved a historic atomic energy bill allowing private and foreign companies into the nuclear power sector, aiming for a tenfold increase to 100 gigawatts by 2047. The move shifts control from state-run entities and opens investment opportunities for companies like Tata Power and Reliance Industries.

India's parliament has greenlit a milestone atomic energy bill, ushering in an era where private and foreign companies can engage in the nation's nuclear power sector. This strategic legislation aims to achieve a tenfold rise in nuclear power capacity, targeting 100 gigawatts by 2047.

The initiative marks a significant policy shift, moving away from state-dominated control. Currently, the Nuclear Power Corporation of India manages the nuclear power plants in the country, with a capacity of 8.8 gigawatts.

With the new law in place, domestic private firms, including Tata Power and Reliance Industries, are being encouraged to invest nearly $26 billion. Foreign companies can partake through partnerships, provided they secure the necessary operational licenses from Indian authorities.