At India-UK CEO Forum, Modi announces to open country’s nuclear power sector to private players

Prime Minister Narendra Modi on Thursday addressed the India-UK CEO Forum in Mumbai where he announced that India is opening up its nuclear power sector to the private players.

“I am pleased to announce that we are opening up the nuclear power sector to the private sector, and all this has created opportunities to take India-UK cooperation to new heights. I invite you to join India on this development journey,” he said while speaking at the event.

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Modi highlighted the economic reforms his government’s undertaking to improve ease of doing business.

“Today, extensive reforms are underway in the Indian economy. There is a strong focus on improving the ease of doing business while reducing compliance. Recently, we announced GST reform. This will give new impetus to the growth story of our middle class and MSMEs, and will also expand opportunities for all of you,” he said.

He said that infrastructure development is a priority for his government. “We are investing in next-generation physical infrastructure. We are rapidly progressing towards the target of 500 gigawatts of renewable energy by 2030. Let India and the UK set global benchmarks together,” he said.

UK Prime Minister Keir Starmer, who is in India on a two-day visit with the biggest ever trade delegation, said that we’re opening up new opportunities in India for British businesses.

“We are opening the UK-India Technology Security Initiative to boost opportunities for great British companies and deliver dozens of new investments into the United Kingdom, harnessing tech as one of the biggest engines that we have for jobs and for growth,” Starmer said.

He also hailed the trade deal with India, saying the UK is perfectly placed to be partners on India’s journey to becoming the third largest economy in the world.

“We want to build the sectors and the skills of the future together,” he added.