New Delhi, May 10 (IANS) India’s nuclear capacity (8.2GW) accounts for a small share of India’s electricity at around 2 per cent of installed capacity and around 3 per cent of generation and according to Morgan Stanley, nuclear is a strategic complement to renewables in the country, offering firm, low-carbon base-load power without exposure to fossil fuel price volatility.
Relative to global peers, India remains under-penetrated in nuclear energy, suggesting significant headroom for expansion.
The government aims to have 22 GW of nuclear power by F32 with a long-term target of 100 GW by 2047. The announcement of a dedicated Nuclear Energy Mission, with Rs 200 billion earmarked for design, development and deployment of small modular reactors, marks a shift towards more flexible, scalable and potentially private-sector-compatible nuclear deployment.
Parallel legislative efforts, including proposed reforms under the SHANTI framework, aim to modernise the regulatory environment and enable greater private participation under regulatory oversight.
“We believe the success of this strategy will depend on execution, particularly in financing, regulatory reform and supply chain development Global partnerships remain key in shaping capacity expansion,” according to the report.
Across countries, Canada will play a critical role because it is supplying uranium to India under a fresh long-term agreement. The US’s role in India nuclear journey is more prospective and technology-centric than fuel-centric.
The US-India civil nuclear framework remains important, and we think recent moves around SMR technology transfer and broader commercial interest suggest the US could become more relevant on reactor technology, equipment and project participation if liability and regulatory reforms stick, said the report.
India is positioning itself as a global clean energy manufacturing hub, supported by PLI and policy incentives. The focus is shifting to quality and global competitiveness, though procurement practices and supply chain gaps remain constraints.
—IANS
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