Government to Allow Private Firms to Mine and Import Uranium.

India is set to end the government's long-standing monopoly on the nuclear sector by allowing private companies to mine, import, and process uranium. This landmark policy shift is designed to attract billions of dollars in investment to help the country achieve its ambitious nuclear expansion goals, according to two government sources.

This move follows Prime Minister Narendra Modi's government's plan to increase nuclear power production capacity by 12 times by 2047. As Reuters reported in April, the government is also relaxing rules to allow foreign companies to hold a minority stake in power plants.

By meeting this expansion target, nuclear energy is projected to supply 5% of India's total power needs, a significant increase from its current contribution, as estimated by government officials. The new policy is a major step toward modernizing and scaling up the nation's nuclear industry to meet its growing energy demands.