PM Modi In Tokyo: India Opens Nuclear Energy To Private Sector, Targets 100 GW By 2047

Prime Minister Narendra Modi today gave a strong push to India’s nuclear energy ambitions while addressing the India-Japan Joint Economic Forum in Tokyo. In a landmark announcement, he declared that after defence and space, the nuclear energy sector is now being opened for private participation.

Modi underlined India’s policy stability and growth momentum, saying, “Today, India has political stability, economic stability, transparency in policy, and predictability. India is the fastest-growing major economy in the world, and very soon, it is going to become the third-largest economy in the world.”

He highlighted the government’s ongoing reforms aimed at making India an attractive investment destination.

“We have introduced new and simplified income tax compliance. Our reforms are not limited to taxation; we have focused on ease of doing business and created a single digital approval window. We have rationalised 45,000 compliances and also formed a committee for deregulation,” Modi said.

Linking India’s growth story to clean energy goals, he added, “Japan’s technology and India’s talent can together lead the tech revolution of this century. India is rapidly moving towards clean energy, and by 2047, we have set a target of 100 GW of nuclear power. India and Japan have agreed on a joint credit mechanism, and by leveraging it, we can cooperate for a clean and green future.”

Nuclear Mission and Budget Push

Modi’s remarks in Tokyo align closely with the “Nuclear Mission” announced in the Union Budget 2025-26. The mission, unveiled earlier this year, is being described as a transformative shift in India’s energy landscape.

Earlier this year, Union Minister Dr. Jitendra Singh has called it a “revolutionary decision” that will allow the nuclear sector, long closed and tightly controlled, to accelerate growth and innovation with private sector involvement.

The Budget allocated Rs 20,000 crore for R&D in Small Modular Reactors (SMRs), targeting at least five indigenously designed operational SMRs by 2033. These compact nuclear plants are expected to play a key role in decentralised power generation, particularly in remote regions.

India’s nuclear capacity currently stands at 8,180 MW. It is projected to expand to 22,480 MW by 2031-32, with ten reactors under construction across states including Gujarat, Rajasthan, Tamil Nadu, Haryana, Karnataka, and Madhya Pradesh.

Additionally, a 6 x 1208 MW nuclear power project is being planned in collaboration with the US at Kovvada, Andhra Pradesh.

Also Read: PM Modi In Tokyo As Japan Invests Over 3.3 Lakh Crore In India

A Clean Energy Roadmap

Dr. Jitendra Singh has reiterated that nuclear power will be central to India’s energy security as the country reduces its reliance on petroleum imports and ramps up clean energy production. India has committed to achieving 500 GW of non-fossil fuel-based capacity by 2030 and net-zero emissions by 2070.

The Nuclear Mission, together with other initiatives such as the BIOe3 Policy for biotechnology and the Mission LiFE for sustainable living, underscores India’s whole-of-government approach to innovation and sustainability.