Liberalizing the nuclear sector: The Narendra Modi government is planning to open up the country’s nuclear energy sector to private investment, mirroring the liberalization reforms recently undertaken in the space sector, Prime Minister Modi said in a speech at the virtual inauguration of satellite-rocket manufacturer Skyroot’s Infinity Campus in Hyderabad.

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The details: The reforms are expected to create avenues for private players in small modular reactors, advanced reactors, and nuclear innovation, and is a critical step for bolstering India’s energy security, Modi said.

The state-run Nuclear Power Corporation of India is the only entity currently generating nuclear power in India, with 26 nuclear reactors.

New law in the cards: The government will introduce new legislation that seeks to amend the pivotal Atomic Energy Act of 1962 to fundamentally restructure India's civil nuclear sector to pave the way for private sector participation. The legislation will be presented to parliament in the upcoming winter session, starting on 1 December. While amendments to the other nuclear energy law are also under consideration, they will not be introduced during the upcoming session.

Eyeing targets: This legislative shift is critically timed to support India's ambitious objective of achieving at least 100 GW of nuclear energy generation by 2047. Industry analysts have consistently noted that reliance solely on state-owned entities is insufficient to meet this high capacity target, as per The Print.

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