Top Indian power producer NTPC is in talks with foreign firms including those from Russia and the U.S. for construction of small nuclear reactors, a top executive said on Thursday.

In a significant decision concerning civil nuclear energy cooperation, India and France have concluded a declaration of intent on collaboration in co-designing, co-developing and co-producing small modular reactors (SMRs) and Advanced Modular Reactors (AMRs).

India and France plan to work together on developing small modular nuclear reactors, India's foreign ministry said after Prime Minister Narendra Modi's visit to the country. Modi and French President Emmanuel Macron emphasised the importance of nuclear energy for "strengthening energy security" and transitioning towards a "low-carbon economy".

India and France have signed a declaration of their intent to establish a partnership on advanced and small modular nuclear reactors, the Indian foreign ministry said on Wednesday during Prime Minister Narendra Modi's visit to the country.