India to open its nuclear energy sector to private companies; PM Modi says, “This will strengthen our energy security & tech leadership”

India is making a major change to its nuclear energy policy. PM Narendra Modi announced that private companies will now be allowed to participate in the country’s nuclear energy sector. 

This change is expected to help increase energy production, support modern reactor technology, and encourage innovation in the industry.

India Opens Nuclear Energy Sector to Private Companies

Until now, India’s nuclear energy sector has been fully controlled by the government. Nuclear power contributes only a small part of the country’s electricity. By allowing private companies to invest and operate, India hopes to speed up the growth of nuclear energy.

PM Modi said, 

“We’ll open up the nuclear sector to the private sector soon. This will strengthen opportunities in small modular and advanced reactors and nuclear innovations.”

Private firms could soon take part in building, financing, and operating nuclear reactors, including small modular reactors and advanced reactors. They may also be involved in mining or processing nuclear fuel under new rules. 

The Prime Minister further added, “This reform will strengthen our energy security and technological leadership.” 

The government compares this move to reforms in the space sector, aiming to involve private companies in high-technology industries and support faster progress.

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What the new nuclear policy means for India’s energy future

This policy change could lead to more private investment in nuclear reactors and technology. However, new laws and changes to existing ones, such as the Atomic Energy Act, 1962, may be needed to allow private companies to operate in this sector.

Experts say private participation could help India build more reactors faster, increase energy production, and improve energy security. This change could also support cleaner energy and allow for more research and development in nuclear technology.

By opening the nuclear energy sector to private companies, India aims to increase its capacity, promote modern technologies, and provide more options for clean energy.

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