The Reliance Group subsidiary Reliance Industries has opined that Indian government needs to overhaul the domestic uranium exploration and mining by opening it up to the private players.

The company said the sector should open up in line with the New Exploration Licensing Policy (NELP), to augment the domestic production and bring down the dependency on metallic element imports, according to Economic Times.

Reliance Industries president (operations) Atul Chandra said that some selective Indian companies should be allowed to go overseas in a big way to acquire uranium assets for energy security.

"There should be proper safeguards in selecting companies for the uranium business," Chandra told Economic Times, keeping in view the sensitivity of the sector.