Bhubaneswar, Dec. 13 -- The Union Cabinet approved a bill aimed at opening the restricted nuclear power sector to private companies, a key move to achieve the country's target of 100 gigawatts of nuclear power capacity by 2047.

The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill proposes amendments to the civil liability law to protect nuclear plant operators, cap the liability of equipment suppliers, and restructure operator insurance coverage to Rs 1,500 crore per incident under the Indian Nuclear Insurance Pool.

The bill proposes permitting up to 49% foreign direct investment and establishing a unified legal framework for atomic energy, including the creation of a specialised nuclear trib...