India-France nuclear talks: Modi invites French firms under SHANTI Act

PM Modi and French President Macron discussed nuclear cooperation, including SMRs. India invited French firms for direct participation in its nuclear sector under the SHANTI Act, which allows private and foreign investment in the industry.

Prime Minister Narendra Modi and French President Emmanuel Macron discussed cooperation in the nuclear sector, including small and advanced modular reactors. Foreign Secretary Vikram Misri, during a special briefing by the Ministry of External Affairs on the visit of Prime Minister Modi to Nice, invited French nuclear companies for direct participation in the Indian nuclear sector, under the SHANTI Act.

SHANTI Act Transforms Nuclear Industry

"And with that in view, I think the field is open for French nuclear companies, in this case, to start looking at direct participation in the Indian nuclear sector or do so in participation with Indian private sector companies, whether in conventional nuclear power reactors or in the more advanced small modular reactors, etc. So the Prime Minister shared his vision on this with the President, and the President welcomed the outlook that was provided, and both sides agreed to encourage their respective agencies to remain in touch on these issues. And we will continue to follow this particular matter," he said. Misri said that the enactment of the SHANTI Act in India altered the nuclear industry scenario by permitting private companies' participation in the nuclear sector. "But in parallel, there is a rich vein of discussions that has been opened on the aspect of small modular reactors and advanced modular reactors. And there too, there has already been a considerable amount of discussion between the two sides. You may be aware that there is a strategic task force between the two countries that looks specifically at this. In today's discussions between the President and the Prime Minister, there was discussion on nuclear cooperation as well and the Prime Minister, in particular, underlined the recent developments on the Indian front in terms of the enactment of the SHANTI legislation in India, which essentially, after a very long period of time, changes the nuclear industry scenario in India, I would say, by permitting not just private sector participation in the nuclear sector, but also foreign direct investment in the nuclear sector," he said.

Technical and Financial Talks Underway

Misri further said that the two leaders took into account the fairly dynamic scenario of nuclear technology itself. "I think the discussion has primarily been carried on between EDF, Electricite de France, and the Nuclear Power Corporation of India Limited on both the technical aspects of this project, as well as the very important financial aspects of the project. These discussions are carrying on. They are taking into account, I think, the fairly dynamic scenario of nuclear technology itself, the innovations that have been made, and also the different possibilities that are there insofar as financing is concerned," he said.

The SHANTI Act, 2025, replaced the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010, and enabled limited private participation in the nuclear sector. Prime Minister Narendra Modi held bilateral talks with the President of France, Emmanuel Macron, at Villa Kerylos in Nice on June 14. This was the first meeting of the two leaders since the elevation of India-France ties to the level of 'Special Global Strategic Partnership' earlier this year. (ANI)

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