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India’s overhaul of its atomic energy laws to private-sector participation in nuclear generation could unlock up to INR 19.3 tn (USD 214 bn) in new investment, Atomic Energy Minister Jitendra Singh told Bloomberg. The newlaw is expected to go to the cabinet this week before moving to parliament.
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IN CONTEXT- India needs private capital to meet the 100-GW nuclear capacity goal for 2047, but long-stalled projects with Electricité de France and Westinghouse remain hamstrung by an Indian law that holds suppliers liable for accidents.
Removing the chokepoint: Global nuclear norms hold operators, not suppliers, liable for accidents — a contrast that has deterred foreign reactor-makers and slowed India’s post-2008 nuclear revival. Amendments to both the atomic law and the liability framework aim to create a “much more facilitative” regime for investors, said Singh.
India joins global reactor race: Nuclear power is enjoying resurgence worldwide as AI data centers boost demand for clean power. India currently operates only one foreign-technology station, the Russian-built Kudankulam plant in Tamil Nadu, but the recent India-Russia summit paved the way for a second project using Russian reactors, with site allocation talks underway.
MEANWHILE– India is also ramping up its ambitions in space, with plans to deploy a space station named Bharatiya Antariksh Station by 2035 and land an Indian astronaut on the Moon by 2040, Singh told Bloomberg.
Why now? The initiative is central to the Modi government’s bid to pitch India as a developed-economy by 2047 amid stiffening competition with China, which plans its own crewed lunar mission by 2030.
Private lift-off: India’s space economy has grown to USD 8 bn since opening to private investment, with a target of USD 40-45 bn within a decade, according to Singh. About 400 space startups now operate in satellites, launch systems, and data analytics. India aims to raise its global commercial space share from less than 2% to 8-10% by 2035, Singh noted.
Fuel for the mission: The government last month launched an INR 1 tn (USD 11.13 bn) research, development, and innovation scheme to fund advanced technologies. Following its 2023 landing on the Moon’s south pole, India is preparing for its first crew mission in early 2027.
