Govt Seeking Foreign, Domestic Investment In Nuclear Sector: Jitendra Singh

(MENAFN- AsiaNet News)

The government is looking for foreign investment in the nuclear sector after opening it to private participation, Minister of State (Independent Charge) for Science and Technology Jitendra Singh said on Thursday, adding that investment is sought from both domestic and overseas sources.

“We are looking forward to a huge investment happening both domestically and also from out of the country,” Singh said while addressing the CII Global Summit on Advanced Material, Critical Minerals & Metals.

He said a group of business players from the US was to find out ways on how they can invest money in the nuclear sector of India after it was opened to private participation.

India Modernises Nuclear Framework

The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, 2025 consolidates and modernises India's nuclear legal framework. It enables limited private participation in the nuclear sector under regulatory oversight, opening new avenues for collaboration and investment.

Singh also said there was enough room for foreign investment and hoped Canadian industry leaders would come to India.

The minister said the government had simultaneously opened the nuclear sector to private participation and advanced its nuclear programme.

He said Indian industry had earlier not been prepared to invest in the nuclear sector or the human space sector as companies were focused on other areas.

Singh said greater industry engagement would be important to accelerate private participation. He also pointed to the experience of the space sector after it was opened up, saying the results had been“miraculous”.

He said industry partners should be involved from the beginning of projects and initiatives, as sustained innovation requires strong industrial support.

Singh also said commercial viability would be an important consideration for private investors, noting that a businessman would be ready to invest only if confident about the returns.

India's long-term nuclear vision is ambitious by design. With policy backing, dedicated funding, and indigenous research at its core, the country is building a nuclear future that is both self-reliant and globally significant.

Focus on Critical Minerals

On critical minerals, Singh said they would be an important component of the next phase of technology competition and their significance was no longer confined to mining.

He said critical minerals were also linked to the energy sector, energy security, industry and national security.

National Critical Mineral Mission

The government has launched the National Critical Mineral Mission (NCMM) in 2025 to establish a robust framework for self-reliance in the critical mineral sector. Under this mission, the Geological Survey of India (GSI) has been tasked with conducting 1,200 exploration projects from 2024-25 to 2030-31.

Singh said India needed to follow a global strategy by combining domestic and international resources. He also stressed the need to build domestic capabilities and reduce dependence on external resources.

The minister called for greater synergy between research, industry, government and the non-governmental sector, saying stronger collaboration would be important as India advances in emerging areas.

He said India was going through an important phase and called on industry to partner in the country's growth journey. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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