Prime Minister Narendra Modi on Thursday announced that India's tightly controlled nuclear energy sector would soon be opened to private companies. PM Modi made this announcement via video conferencing at the inauguration of Skyroot Aerospace's 'Infinity Campus' in Hyderabad.

He said this major step will further strengthen the country's energy security and give a new direction to technological leadership. PM Modi stated that the government is working towards the target of producing 100 gigawatts of nuclear power by 2047. Currently, the country has the capacity to produce 8.8 gigawatts, a target more than 10 times the current capacity.

The Prime Minister stated that this change will create many new opportunities in areas such as small modular reactors, advanced reactors, and nuclear innovation. The government is going to introduce the Atomic Energy Bill 2025 in the winter session of Parliament, which begins on December 1. This bill will legally allow the private sector to enter nuclear power generation.

Earlier, in the budget presented in February, Finance Minister Nirmala Sitharaman also announced amendments to the Nuclear Liability Act. As it stands, no private company or state government is allowed to operate nuclear power plants under the Atomic Energy Act, 1962, and this right only lies with the central government and its companies.