NEW DELHI (Diya TV) — India has taken two major reform steps that could reshape its economy and energy future. The U.S.-India Strategic Partnership Forum, known as USISPF, welcomed the passage of the Insurance Laws (Amendment) Bill, 2025, and the enactment of the SHANTI Act, 2025. Together, the laws aim to attract long-term foreign investment, expand consumer choice, and strengthen India’s strategic ties with global partners.
Both reforms reflect years of planning by the Indian government. They also align with India’s long-term development goals ahead of the country’s 100th year of independence in 2047.
The Insurance Laws (Amendment) Bill, 2025, removes the cap on foreign direct investment in the Indian insurance sector. The change allows foreign insurers to set up wholly owned insurance companies in India for the first time.
USISPF said the reform will encourage sustained foreign investment and foster healthy competition. Industry experts expect the move to bring new products, better technology, and stronger customer service. The reform also supports innovation across health, life, and general insurance markets.
Consumers stand to gain the most. Greater competition often leads to better coverage options and more affordable premiums. More insurers in the market can also expand access to insurance in underserved regions.
The reform supports the government’s national mission of “Insurance for All by 2047.” The initiative seeks to ensure financial security for every citizen and enterprise by the centenary year of India’s independence. USISPF described the move as a fundamental step toward that goal. The group said the government acted after careful and deliberate planning to balance growth with stability.
The SHANTI Act repeals and replaces two landmark laws. These include the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010. The new framework aims to modernize rules that no longer match current energy and technology needs.
India plans to generate 100 gigawatts of nuclear energy by 2047. Current nuclear capacity stands at about 8 to 9 gigawatts. The government views nuclear power as a key part of its clean energy transition.
Union Minister of Science and Technology and Atomic Energy Jitendra Singh said the Bill modernizes India’s nuclear framework. He told Parliament the law aligns with today’s technological, economic, and energy realities.
Singh also stressed that the Act retains strong safety, security, and regulatory safeguards. These protections have guided India’s nuclear program since 1962. The SHANTI Bill was tabled in Parliament on Dec. 15 and passed last week.
Together, the insurance and nuclear reforms highlight India’s push to open strategic sectors to global participation. They also reflect confidence in India’s regulatory institutions and long-term growth story.
USISPF said both measures strengthen India’s economic resilience and deepen U.S.-India strategic cooperation. As India moves toward 2047, these reforms could play a critical role in shaping financial security, clean energy growth, and global investment confidence.
