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Nuclear sector to be opened for private participation: PM Modi
Prime Minister Narendra Modi announced plans to open the nuclear sector to private firms, mirroring the successful liberalization of the space industry. This move aims to foster innovation in small modular and advanced reactors, bolstering India's energy security and technological leadership.
Prime Minister Narendra Modi on Thursday promised opportunities for private firms in the nuclear sector that would be opened in the same way as the government did with the space sector.
“We are now taking steps in another very important sector. We are moving toward opening the nuclear sector as well. We are laying the foundation for a strong role for the private sector in this field too,” Modi said, speaking after virtually inaugurating the private space launch company Skyroot's Infinity campus in Hyderabad.
The move, he said, would create opportunities in small modular reactors, advanced reactors, and nuclear innovation. “This reform will give new strength to our energy security and technological leadership.”
Referring to the space sector, Modi said the youth, especially Gen Z, responded enthusiastically and took full advantage. “Today, more than 300 space startups in Bharat are giving new hope to the future of Bharat's space journey. And what's special is that most of our space startups began with very small teams,” he said, adding he met many of them over the past 5-6 years.
Gen-Z engineers, designers, coders and scientists were creating new technologies today, the PM said. “Bharat's private space talent is establishing a distinct identity across the world. Today, Bharat's space sector is becoming an attractive destination for global investors.”
The PM sounded confident that the global space economy was going to multiply in the coming years, throwing up huge opportunities for India's youth. “Today, the demand for small satellites is continuously increasing around the world. Launch frequencies are rising, and new companies are entering the satellite services space. And space has now established itself as a strategic asset.”
Only a few countries could match India in its capabilities in the space sector. The world has very high expectations from India because its space capabilities were both cost-effective and reliable, Modi said. “Global companies want to manufacture satellites in Bharat, want to take launch services from Bharat, and want technology partnerships with Bharat. Therefore, we must make the most of this moment.”
As India moves on to take its launch capacity to new heights in the next five years, five new unicorns will emerge from the space sector, he said.
Bharat's Gen-Z
The PM heaped lavish praise on India's Gen-Z, which, he said, was providing new solutions in every field through a new wave of startups. “I can confidently tell the Gen-Z of the world that if they want true inspiration, they can find it from Bharat's Gen-Z.”
India, he said, has emerged as the world's third-largest startup ecosystem. Today, startups were emerging from even the smallest towns and villages, he said, putting the number of registered startups at 1.5 lakh plus. Many, he added, were unicorns.
The country's march, the PM stressed, was not just limited to apps and services, but also towards deep-tech, manufacturing, and hardware innovation. Semiconductor fabrication units, chip manufacturing, and design hubs are developing rapidly in the country, he said, expressing confidence that the country would establish a strong electronics value chain.
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Source: EconomicTimes
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