In a landmark policy shift, Prime Minister Narendra Modi announced that India will open its nuclear energy sector to private companies, ending the decades-old state monopoly. The move, revealed during his address on the 78th Independence Day, is aimed at boosting domestic energy capacity, reducing import dependency, and attracting billions in investments.
For the first time, private firms will be allowed to mine, import, and process uranium — a critical resource for nuclear power generation. This change is expected to fast-track India’s nuclear energy expansion, create high-value jobs, and foster technological innovation in the sector.
Highlighting India’s long-standing reliance on foreign countries to meet its energy needs, PM Modi emphasized the importance of nuclear energy in achieving energy security and sustainability. “India must harness every available source to meet its growing energy demand, and nuclear power will play a central role in this mission,” he said.
The reform is expected to draw significant interest from domestic and international players, potentially transforming India into a global hub for nuclear energy development while reinforcing its commitment to clean, reliable, and long-term power solutions.