Mumbai: India’s nuclear industry is transitioning from a state-led model to a more open, market-oriented ecosystem, driven by recent policy reform and rising demand for reliable, low-carbon power, according to a new report.
A white paper, titled “Unlocking India’s Nuclear Sector: Commercial Opportunities Created by the SHANTI Act” released by consultancy firm YCP, points out that India has set a target of 100 GW of nuclear capacity by 2047, more than 10 times its current base of 9 GW, requiring an estimated $210 billion in capital. Achieving this level of growth will require a broader pool of capital and execution capacity than the public sector alone can provide.
The nuclear sector offers an over multi-layered opportunity across the value chain, from large-scale grid-connected plants and captive industrial reactors to engineering and construction, component manufacturing, and advanced reactor development, the report states.
It also underscores opportunities across generation, industrial applications, supply chains, and financing, positioning nuclear as a critical backbone of the energy transition, supporting grid stability and industrial decarbonization. The report examines the growing significance of nuclear energy investment in India in supporting long-term sector expansion.
For decades, nuclear development was intentionally centralised, supported by public funding and domestic capabilities. While this approach established a strong foundation, it was not built to support rapid expansion at scale.
Drawing on global case studies, the white paper outlines key conditions for successful private participation, including revenue stability, clear liability frameworks, and regulatory strength. It also examines global lessons, such as the US’ nuclear private ownership model and Canada’s nuclear concession model. The report identifies remaining gaps in financing, execution, and policy clarity that will shape how quickly the sector can scale.
“India’s nuclear sector is moving from a strategic programme to a commercial platform,” says Ankit Hoshing, Partner at YCP India. “The opportunity is clear, but its pace will depend on how quickly a viable investment ecosystem takes shape.”
The SHANTI Act (2025) represents a turning point. The legislation opens the door for private participation in nuclear power generation, allowing companies to own and operate assets while maintaining government control over strategically sensitive areas such as fuel cycles, enrichment, and waste management. The reform marks a major step in India’s nuclear sector privatisation efforts, the report states.
(IANS)
