Centre to allow foreign investments in nuclear power industry

New Delhi, May 6 (KNN) The central government is planning to reverse the ban on foreign investment in its nuclear power industry, reported Reuters. 

This will allow greater participation by domestic private firms, two government sources told Reuters.

The measures have been recommended by a government panel, set up by Niti-Aayog which is headed by Prime Minister Narendra Modi.

Domestic private companies are allowed to participate as "junior equity partners" by supplying components and helping build them. 

The panel has recommended changes to the act and to India's foreign investment policies so that both domestic and foreign private companies can complement nuclear power generation by public companies.

The aim is to reduce carbon emissions and nuclear is in focus because it can supply energy 24/7, unlike solar energy, said the officials, who declined to be named as they were not authorised to talk to the media.  (KNN Bureau)