India to open up nuclear energy sector for private investments, initiate reforms: PM Narendra Modi

Prime Minister Narendra Modi today said the government is moving towards opening up the nuclear sector in the country for private sector investments like the space sector, given the potential of reforms in the segment.  

“The scope of reforms is continuously expanding. Just as space innovation was opened to the private sector, India is now moving towards opening the nuclear sector as well,” Modi said while inaugurating Skyroot’s Infinity Campus in Hyderabad, Telangana via video conferencing today.

“A strong role for the private sector is being laid in this field, which will create opportunities in small modular reactors, advanced reactors, and nuclear innovation. This reform will give new strength to India’s energy security and technological leadership,” PM Modi said.

Modi said the future will depend greatly on the research being carried out today, and underscored that the government is focused on providing maximum opportunities for youth in research.

“He underlined that the ₹1 lakh crore Research, Development, and Innovation Fund will provide significant support to youth across the country. Modi stated that more than 10,000 Atal Tinkering Labs have already been set up to instill a spirit of research and innovation among students, and added that work is underway to establish 50,000 new labs in the coming days,” said a release from the government.

Modi said these efforts are laying the foundation for new innovations in India and declared that the coming era belongs to India, its youth, and its innovations.

PM Modi assured every young person, every startup, scientist, engineer, and entrepreneur that the government stands firmly with them at every step. “He once again congratulated the entire Skyroot team and extended his best wishes to all those who are giving new momentum to India’s space journey. He concluded by calling upon everyone to make the 21st century the century of India, whether on Earth or in space,” said the release.

On the space sector, PM Modi said India has transformed its space sector into an open, cooperative and innovation-driven ecosystem in the last six to seven years, adding that the country possesses capabilities in the space sector that few nations in the world possess. Modi said India will emerge as a leader in the global satellite launch ecosystem in the coming times.