Prime Minister Narendra Modi on Thursday announced plans to open the country's nuclear sector to private players.
"Just as we opened space innovation to the private sector, we are now taking steps in another very important sector. We are moving toward 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 during his address at the inauguration of Skyroot Aerospace's new Infinity Campus.
"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," he added.
The nuclear sector has remained out of bounds for local conglomerates, with the Department of Atomic Energy (DAE), which reports directly to the Prime Minister, keeping a tight leash on even components associated with nuclear energy.
Russia is a major player in India’s nuclear sector; it is partnering the country in constructing atomic reactors at the Kudankulam Nuclear Power Plant (NPP) in Tamil Nadu, while also providing know-how to develop its nuclear submarine fleet in the defense domain.