India is getting ready for a major change in its nuclear energy sector. Prime Minister Narendra Modi announced that the government will soon allow private companies to participate in nuclear power production, a move that could boost the country’s energy future.
PM Modi shared this update while virtually inaugurating Skyroot Aerospace’s new Infinity campus in Hyderabad. He said that opening up the sector will build “new strength” for India’s energy security and help the country become a leader in advanced nuclear technology.
Currently, India’s nuclear power capacity is at 8.8 GW but the government has an ambitious goal of reaching 100 GW by 2047. The path to this goal will necessitate the creation of new technologies in small modular reactors (SMRs), advanced reactors, and other nuclear innovations.
As a part of this transition, the government has planned to put forward The Atomic Energy Bill, 2025 in the Parliament’s upcoming Winter Session which is scheduled to start from December 1. This will be a landmark move if enacted since it will allow the nuclear power sector to be opened up to private players for the first time.
Currently, the Atomic Energy Act of 1962 allows only the central government and companies created by it to run nuclear power plants. Even state governments and private firms are not allowed. The new bill aims to change that.
Earlier this year, Finance Minister Nirmala Sitharaman was also signaling this change by announcing amendments to the nuclear liability law.
If the alterations to the current law are made, India’s nuclear power industry can look forward to new investments, quicker innovation, and better ability in supplying the country’s long-term clean energy requirements.
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