India To Open Nuclear Power Sector To Private Companies With 100 GW Goal By 2047

(MENAFN- KNN India) New Delhi, Aug 4 (KNN) The Indian government is set to open its nuclear energy sector to private companies as part of its Viksit Bharat 2047 vision.

To make this possible, amendments are being considered to key legislations including the Atomic Energy Act and the Civil Liability for Nuclear Damage Act.

These changes will allow private players to build, own, and operate nuclear power plants-a role currently restricted to public sector units like NPCIL, BHAVINI, and ASHVINI.

This move aims to boost India's nuclear power capacity from the current 8 GW to 100 GW by 2047. The reforms will also establish clear eligibility norms for private sector participation, based on financial strength, technical expertise, and infrastructure capabilities.

The plan mirrors earlier reforms in the space sector, where private companies were allowed entry to accelerate growth.

To support this large-scale expansion, the government plans to launch a Nuclear Energy Mission in the 2025–26 Union Budget.

The mission will be backed by an initial fund of ₹20,000 crore (approximately USD 2.3 billion) and will focus on the development of at least five small modular reactors (SMRs) by 2033.

Major Indian conglomerates such as Reliance Industries, Tata Power, Adani Group, and Vedanta have already shown interest in entering the nuclear space.

International companies including EDF, GE-Hitachi, and Rosatom are also exploring opportunities in India's evolving nuclear landscape.

State-run NTPC is expected to play a central role, with plans to invest $62 billion in expanding its nuclear capacity to 30 GW.

Union Minister Jitendra Singh emphasised that involving the private sector will significantly accelerate India's journey toward becoming a developed nation by 2047, while also strengthening its clean energy targets.

(KNN Bureau)

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