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In a move to bring in the private sector in the nuclear power sector, the Indian government will partner with private players in setting up small reactors, for research and development of small modular reactors, and newer nuclear energy technologies.  

Presenting her seventh Union budget on Tuesday in the Parliament, Finance Minister Nirmala Sitharaman said: "Nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat."

"Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors, research & development of Bharat Small Modular Reactors, and research & development of newer technologies for nuclear energy. The R&D funding announced in the interim budget will be made available for this sector," she said.

The US and Russia have shown interest in developing small modular reactors in India. Small modular reactors are the ones which are factory-made compact with less than 300 MW capacity.

India and the US are working together to develop next-generation small modular reactor technologies for domestic and export markets.

According to a joint statement issued by the White House, President Joe Biden and Indian Prime Minister Narendra Modi, during the latter’s visit to the US last year, noted "the ongoing discussion on developing next-generation small modular reactor technologies in a collaborative mode for the domestic market as well as for export".