Wedoany.com Report-Aug. 18, India’s government is set to reform its nuclear sector by allowing private companies to participate in uranium mining, importing, and processing, according to government sources cited by Reuters. This shift aims to end the state’s long-standing control over these activities, driven by the goal of expanding nuclear power capacity.

India’s estimated uranium reserves of 76,000t could fuel 10,000MW of nuclear power for 30 years.

The initiative supports India’s plan to increase nuclear power production twelvefold by 2047, meeting approximately 5% of the nation’s total energy needs. Previously, the state managed all uranium-related activities due to concerns about nuclear material safety and security. The government will continue to oversee the reprocessing of spent uranium fuel and plutonium waste management, in line with international standards.

To meet rising nuclear fuel demand, a regulatory framework is being developed to enable private Indian companies to enter the uranium sector. The policy, expected to be announced within the current fiscal year, will also permit private firms to supply essential control system equipment for nuclear power plants.

India’s uranium reserves, estimated at 76,000 tonnes, could sustain 10,000 megawatts of nuclear power for 30 years, based on government data. However, these reserves are expected to cover only 25% of the projected demand, requiring increased imports and enhanced processing capabilities.

In the budget announcement earlier this year, the government outlined its intent to open the nuclear sector, prompting major Indian companies to explore investment opportunities. To support private participation, amendments to five laws, including those related to mining, electricity, and foreign investment policies, will be necessary.

In a related development, last month, India introduced a strategic plan to encourage foreign companies to establish copper smelters and refineries, aiming to boost domestic production and reduce reliance on imports by 2047. The plan includes incentives for state-owned Indian firms to invest in foreign mining operations.