Hyderabad, Nov 27: Prime Minister Narendra Modi on Thursday said India’s tightly controlled nuclear power sector will soon be opened for private players, a move that will give new strength to the country’s energy security.
The prime minister made the remarks during a function to inaugurate Skyroot Aerospace’s Infinity campus here.
“We are moving towards opening the nuclear sector as well. We are laying the foundation for a strong role for the private sector in this field too,” Modi said in his address through video conferencing.
The government has set a target of generating 100 GW of nuclear power by 2047, a more than 10-fold increase from the current capacity of 8.8 GW of atomic energy generation. “This will create opportunities in small modular reactors, advanced reactors and nuclear innovation. This reform will give new strength to our energy security and technological leadership,” Modi said.
The government has listed The Atomic Energy Bill, 2025 for introduction during the Winter session of Parliament beginning December 1.
The Bill seeks to open up the nuclear power sector for private sector participation.
Finance Minister Nirmala Sitharaman, presenting the General Budget in February this year, had also announced plans to amend the nuclear liability law.
The Atomic Energy Act, 1962 prohibits the participation of the private sector or even state governments in the nuclear sector.
Under this law, the power to operate nuclear power plants is vested in the central government and companies or corporations established by it.
Earlier, the prime minister unveiled space startup Skyroot’s first orbital rocket. The company’s orbital rocket Vikram-I has the capability to launch satellites to orbit.
He also said that today, Gen Z engineers, Gen Z designers, Gen Z coders and Gen Z scientists are creating new technologies.
Modi said when the government opened the space sector, the country’s youth, especially the Gen-Z generation, came forward to take full advantage of it.
“Today, over 300 Indian space startups are giving new hopes to India’s space future. Most of these space startups began with small teams sometimes two people, sometimes five, sometimes in a small rented room with limited resources but with determination to reach new heights. I had the opportunity to meet them,” he said, adding this spirit gave birth to the private space revolution in India.
Be it the propulsion system, composite materials, rocket stages, satellite platforms, India’s youth are working in areas that were unimaginable a few years ago, he said. (PTI)
