Nuclear Power Sector Open to Private Players, Says PM Modi: Here’s What It Means

Prime Minister Narendra Modi announced that India is enabling private participation in its nuclear power sector, calling it a new opportunity to enhance cooperation between India and the United Kingdom, reported Mint.

“I am pleased to announce that we are opening up the nuclear power sector to the private sector, and all this has created opportunities to take India-UK cooperation to new heights. I invite you to join India on this development journey,” PM Modi said, speaking at the India-UK CEO Forum in Mumbai, reported ANI.

Starmer’s visited India over two months after the two countries signed a landmark free trade pact that is expected to increase market access, cut tariffs and result in doubling bilateral trade by 2030.

Earlier, Modi and Starmer met at Raj Bhavan in Mumbai and held talks to further strengthen the India-UK Comprehensive Strategic Partnership, as outlined in the ‘Vision 2035’ roadmap.

Since Starmer took over as British prime minister in July 2024, the two leaders have met three times.  The first two meetings took place on the fringes of the G20 Summit in Rio de Janeiro last November and at Chequers in Buckinghamshire in July of this year.

Emphasising the government's focus on infrastructure, Prime Minister Modi said at the CEO summit that infrastructure development is a priority for us, reported ANI. “We are investing in next-generation physical infrastructure. We are rapidly progressing towards the target of 500 gigawatts of renewable energy by 2030... Let India and the UK set global benchmarks together,” he said.

Strengthening UK-India Ties

The announcement comes at a time when UK Prime Minister Keir Starmer’s India visit seeks to deepen cooperation across energy, trade and defence.

According to ET, India is already considering qualifying criteria for private companies interested in operating nuclear power plants. While such companies are barred from nuclear power generation, deliberations are ongoing to frame or change laws to allow their participation. Under discussion are amendments to the Atomic Energy Act and Civil Liability for Nuclear Damage Act to enable licensing and ease vendor liability rules.

According to an April 2 report by Reuters, NTPC, India’s top producer, is seeking global partners to build large nuclear reactors with about 15 gigawatts (GW) combined capacity. Experts view this as crucial to achieving the target of 100 GW nuclear capacity by 2047, diversifying India’s clean energy mix.