Gaurav Sansanwal
India’s new nuclear energy law is New Delhi’s most significant step to unlock the promise of nuclear power and finally fulfill the promise of U.S.-India civil nuclear cooperation. The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act opens India’s tightly controlled nuclear power market to private players, while reforming India’s liability regime to bring it closer to global norms—as part of a broader national strategy to attract greater investment from key trade partners, and install 100 gigawatts (GW) of nuclear energy by 2047.
Given that prices for renewables plus storage continue to beat new nuclear in most cases, this may not be the nuclear “renaissance” India hopes for. Still, the reform creates some tangible openings for U.S. firms. With supplier liability removed, U.S. companies can now compete in India’s market for reactors, fuel services, and R&D partnerships for advanced technologies like small modular reactors—without the liability exposure that previously made India's market untenable.
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