India plans to allow private companies to mine, import, and process uranium, ending decades of state monopoly, Reuters reported. The move aims to attract investment and support the government’s goal to expand nuclear power capacity and its expansion twelvefold by 2047.

The government will still manage spent fuel reprocessing and plutonium waste. Private firms may also supply critical equipment for nuclear plants. Domestic uranium covers only about 25 percent of future demand, so imports and expanded processing are needed.

The policy, expected this fiscal year, requires changes to five laws, including mining, electricity, and foreign investment regulations. Experts call it a “major and bold” step, though legal and political challenges remain.

Several major Indian companies are already planning investments, according to Reuters.