India Gears Up For Nuclear Ambitions With Private Sector

India is strategically pivoting towards expanding its nuclear power capabilities, with an ambitious target of producing 100 GW by 2047. This monumental shift includes encouraging private investment, emphasized Union Minister Jitendra Singh. He highlighted the necessary legislative changes to facilitate this transformation in a traditionally government-dominated sector.

In a bold move, announced during the February budget speech, Finance Minister Nirmala Sitharaman unveiled the government's plans to amend the Atomic Energy Act and the Civil Liability for Nuclear Damage Act. These amendments aim to ease entry barriers for private players in the nuclear arena, a realm historically confined to government entities like NPCIL and ASHVINI.

Minister Singh stressed the importance of private sector involvement to meet global benchmarks and address foreign suppliers' apprehensions. This development invites global participation, with sites like Jaitapur, Mithi Virdi, and Kovvada earmarked for nuclear power parks, reinforcing India's commitment to becoming a major nuclear power player.

(With inputs from agencies.)