On May 17th, 2020, Finance Minister Nirmala Sitharaman made some announcements as the government’s fourth tranche of initiatives for Atmanirbhar Bharat and paved new goals for the startup ecosystem of India. Earlier, few sectors were out of the limits from private entities, but the Union Finance Minister announced that a significant structural change will come and it will increase participation of private entities in them.

Along with coal, defence, electricity, space and other sectors, India has opened nuclear energy space to private players. With this step, the government is now inviting private firms and startups to join the nuclear sector through Technology Development cum Incubation Centers.

While the atomic energy sector is extremely sensitive and is risky to open to private players and startups, the government has set up some reforms related to the application of atomic energy.

Field of medicine –
The private firms and startups interested in the atomic energy sector can participate in the atomic energy sector with the research reactor in public-private partnership (PPP) mode by producing medical isotopes for cancer treatment or innovations related to the medicinal field.

Irradiation technology –
Apart from the medical sector, the private firms and startups can become a part of this sector through the Research Reactor, which is going to be set up in the public-private partnership (PPP) model. This would use irradiation technology to complement agricultural reforms and assist farmers. This irradiation technology is extremely effective in treating horticulture produce and enhance its shelf life. Thereby, along with helping the farmers, India’s export field of fruits and vegetables will also be benefited.

Nuclear research –
The other sector where private firms and startups can mingle is the research section. The technology development cum incubation centres will be set up for creating synergy between research facilities and tech-entrepreneurs. While two of the reforms are related to the consumer application of the atomic energy, this one is targeted towards bringing in innovation and effective research in the sector.

While two of the reforms are related to the consumer application of atomic energy, this one is targeted towards bringing in innovation and effective research in the sector.

Earlier, companies like the Nuclear Power Corporation of India, Uranium Corporation of India, and others had a monopoly on the atomic energy sector, but with this path-breaking step, not only private players but startups will be also able to participate and contribute towards the betterment of the society.

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