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SHANTI Act & private nuclear entry
What it is
The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Act opens nuclear generation to private and foreign participation, amending the Atomic Energy Act 1962 bar on private ownership and the supplier-liability clause of the Civil Liability for Nuclear Damage Act 2010
It underpins a target of 100 GW of nuclear capacity by 2047 - staged at 22 GW by 2032, 47 GW by 2037 and 67 GW by 2042 - against roughly 8-9 GW today
Impact on industries
- Removes the two legal barriers that stalled foreign and private investment for fifteen years, unlocking a market sized by some estimates near $550bn
- Creates a large equipment, EPC, forging and heavy-engineering order pipeline, with private firms already receiving core-component EPC awards
- The Rs 20,000 cr Nuclear Energy Mission funds at least five indigenous SMRs targeted for operation by 2033, a segment with export potential
- The 100 GW target is more than a tenfold increase on the current base, and tariff setting, an independent regulator and fuel supply remain unresolved