Shanti Bill: Structurally Enabling India’s Nuclear Energy Future

With the advent of the Shanti Bill, India formally recognises nuclear energy as an integral component of its energy mix for delivering clean, reliable power—provided safety is rigorously managed. The Bill sets an ambitious target of 100 GW of nuclear capacity by 2047, aimed at strengthening long-term energy security and supporting India’s energy transition.

The Bill enables this journey through several concrete measures:

  • Permitting Indian and foreign private participation in nuclear power development.
  • Rationalising liability frameworks by capping supplier and owner liabilities, alongside proposed reforms to the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010.
  • Strengthening and broad-basing the Atomic Energy Regulatory Board (AERB) to enhance regulatory oversight and nuclear safety governance.
  • Prioritising Small Modular Reactors (SMRs) in the 50–300 MW range as the primary vehicle for rapid and scalable deployment.
  • Retaining government control over fuel supply and usage, recognising the strategic sensitivities related to geopolitics, safety, fuel development, and security of supply.
  • Allowing flexibility in fuel usage, which is critical for early project implementation and technology adoption.

Beyond its explicit provisions, the Bill unlocks several significant opportunities, supported by complementary Government of India initiatives:

  • Development of Indian heavy engineering companies into nuclear design and engineering capabilities, with or without foreign technology tie-ups.
  • Supplying concentrated and consistent load centres such as data centres, metal and process industries, where SMRs are particularly suited for off-grid or captive generation.
  • Enhancing grid flexibility, with SMRs offering load-following capability and stability support.
  • Accelerating thorium-based nuclear technologies, leveraging India’s abundant thorium resources. In this context, MahaGenco, NPCIL, and BARC have already signed an MoU with Russia’s ROSATOM.
  • Reducing upfront capital costs per MW through domestic participation and scale, with potential to mirror the cost-reduction trajectory witnessed in solar and energy storage.
  • Growing interest from Indian conglomerates, with players such as the Tata Group and Adani Group expressing intent, and others expected to follow.

The success of this programme will hinge on several critical enablers: the emergence of strong Indian nuclear design and engineering capabilities, development of thorium-based SMRs, robust safety and regulatory governance, wider participation in distributed nuclear generation, and clear alignment with India’s broader energy transition roadmap.

The sector has now been structurally enabled. The onus lies on both public and private stakeholders to deliver on the promise of secure, clean, and scalable nuclear energy for India.Ashok Sethi #sustain edgeesg

COP30 Implications for Indian Corporates

COP30 did not introduce any new disruptive climate policies that would alter India’s current climate trajectory. Discussions were largely focused on long-term ambition, finance mobilisation and implementation reviews. With COP31 set to take place in Turkey, the likelihood of sharp new global mandates remains low


Countries reiterated commitment to keeping 1.5°C “within reach”, with emphasis on:

  • • strengthening national implementation of existing NDCs
  • • closing the global ambition gap before the 2025–26 NDC cycle



Adaptation Finance Efforts Advanced — but Fell Short. The concern could be that Adaptation Fund secured less than 40% of its USD 300M minimum ask for 2026. However, climate finance flow is supposed to be scaled up to at least USD 1.3 trillion annually by 2035, with a strong focus on public-private mobilization and improved access for developing countries. A key part of this entails tripling of adaptation finance.


It was heartening to see increased engagement from:

  • • industry and financial institutions,
  • • subnational governments and Indigenous groups,
  • • forest and nature-based solution coalitions.



Huge divergent views were expressed on road map to phase down/ phase out of fossil fuel, but the road to convergence always starts with divergence and consciousness about reducing emissions was always present.

Similarly, there was no breakthrough on climate-finance architecture, but post-2025 long-term finance goals remain under negotiation.

COP30 served more as a consultation platform than a pivot point.There are no immediate regulatory or financial impacts for Indian businesses.

However, the underlying message for Indian industry remains consistent:

  • • Prepare for steadily tightening climate expectations,However, no newshort-term compliance or cost shocks have emerged from COP30.
Ashok Sethi #sustain edge esg

Small Modular Reactors: India’s Emerging Clean Energy Consideration


Small Modular Reactors (SMRs) represent a new generation of advanced nuclear technology that has recently attracted global attention. Both the United States and Russia have expressed interest in supplying SMRs to India, a country with a rapidly growing demand for clean and reliable energy. India however is charting its own path with indigenous SMR.

SMRs, typically rated between 10–300 MW, are significantly smaller than conventional nuclear reactors. SMR’s compact design allows them to be factory-built and transported in modular units that require space equivalent to merely a few containers, and can be assembled on-site. This contrasts sharply with traditional reactors that require extensive land and infrastructure. The modular approach enables faster construction timelines, easier deployment and potentially transformative scalability for clean power generation worldwide.

Proponents argue that SMRs offer enhanced safety compared to conventional nuclear plants. However, only a limited number of SMRs are currently operational. According to The Indian Express, one notable example is the Akademik Lomonosov, a floating nuclear power unit stationed at Pevek harbour in Russia. Commissioned in May 2020, the facility comprises of two modules of 35 MWe each, mounted on a non-self-propelled barge. It supplies electricity to the Chaun-Bilibino power system and provides district heating for the Arctic port town of Pevek, making it world’s northernmost nuclear power plant. Another example is China’s demonstration SMR, which was connected to the grid in December 2021 and began commercial operations two years later.

Russia’s Rosatom State Corporation has formally offered to supply SMRs to India. Meanwhile, several Western companiesincluding GE-Hitachi, Westinghouse, Rolls-Royce, Holtec, and NuScaleare also advancing SMR technologies globally and have units in different stages of construction.

India on its part, has completedthe concept design of the lead unit of Bharat SMR(BSMR) of 200 MWe capacity. Detailed engineering design of nuclear and non-nuclear systems is currently on. BSMR is being developed jointly by BARC and NPCIL, who will also work with indigenous suppliers for various equipment. Government expects cost of the lead unit to be about Rs. 5,700 Crore and commissioning by 2032. Note, BARC has also initiated design and development works fora 55 MWe Small Modular Reactor (SMR-55).

Both of these can be deployed as captive units for energy intensive industries such as steel, aluminium andrefineries. Additionally, a high temperature gas cooled reactor of 5 MW capacity is also being developed for hydrogen production.

NPCIL has floated 'Request for Proposal' to deploy 220-MW PHWR technology-based BSR reactors. Many local industrial houses have evinced interest.

Recently passed SHANTI Bill (The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Bill) provides a legal framework for private sector participation in the nuclear energy sector in India as well.

As the country balances its clean energy ambitions with public and environmental safeguards, SMRs could play a pivotal role in shaping the future of nuclear power deployment.