Nuclear Policy Reform: India To Open Nuke Energy Sector For Private Investors, PM Modi Says 'Reform Will Strengthen Energy Sector'

New Delhi: India will soon witness a major shift in its nuclear policy. Prime Minister Narendra Modi on Thursday said that his government will open the nuclear energy sector for private sector investments. PM Modi made the announcement during the inauguration of Skyroot’s Infinity Campus in Telangana's Hyderabad via video conferencing.

"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," the Prime Minister said.

PM Modi further stated that investments by the private sector will create opportunities in nuclear innovation. "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," he said.

While talking about India's space ventures, the Prime Minister said that India will emerge as a global leader in the satellite launch ecosystem. "The nation is witnessing an unprecedented opportunity in the space sector today. The private sector is taking great strides in India's space sector. Skyroot's Infinity Campus is a reflection of new thinking, innovation and youth power," he said.

"Our youth's innovation, risk-taking ability, and entrepreneurship are touching new heights. Today's event shows that in future, India will emerge as a leader in the global satellite launch ecosystem," the Prime Minister further added.

PM Modi also lauded the Indian Space Research Organisation (ISRO) for its achievements over decades. "India's space journey began with limited resources, but our ambitions were never limited. From carrying a part of a rocket on a bicycle to the world's most trusted launch vehicle, India has proved that dreams are not achieved by resources, but instead by resolve. India has created its own identity with credibility, capacity and value. ISRO gave a new flight to India's space journey for decades," he stated.

On Thursday, PM Modi also unveiled Skyroot's first orbital rocket, Vikram-I, capable of launching satellites into orbit. The state-of-the-art facility will have around 2,00,000 square feet of workspace for designing, developing, integrating and testing multiple launch vehicles, with a capacity to build one orbital rocket every month.