Make in India, Power the World: The New Nuclear Supply Chain Opportunity
The Indian nuclear energy sector is currently undergoing a strategic transformation, pivoting from a state-controlled necessity to a dynamic, commercially viable engine of industrial and technological growth. Anchored by the national goal of achieving 100 GW of nuclear capacity by 2047, the sector is set to become a crucial foundational asset supporting India’s projected $35 trillion economy and its long-term decarbonization strategy. This expansion mandates unprecedented mobilization of private capital, advanced manufacturing capabilities, and disruptive technological innovation. For global investors, technology firms, and industry professionals, India represents a generational opportunity to engage in a stable, high-growth market that prioritizes strategic partnerships and indigenous development.
The 100 GW Mandate and Industrial Mobilization
India recognizes nuclear power as essential for energy reliability. While renewables add significant capacity, rapid urbanization and industrial growth—projected to place 600 million Indians in urban centers by 2031—require stable, continuous base-load power, which nuclear plants provide with a capacity factor above 90%. This reliability shields nuclear investments from the intermittency of variable renewables, positioning it as core infrastructure.
Achieving the 100 GW target requires expanding investment beyond traditional state entities. Policy momentum is building through proposed amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act, creating a regulatory framework for private sector participation. Leading conglomerates—including Tata Power, Reliance Industries, Adani Power, and Vedanta Limited—are exploring entry.
Private involvement largely follows a hybrid Public-Private Partnership (PPP) model. Private investment supports construction, land acquisition, and infrastructure outside the reactor complex, while the Nuclear Power Corporation of India Limited (NPCIL) handles specialized operations and fuel management. This structure de-risks private capital while leveraging it for critical infrastructure, providing a secure entry point for industrial partners.
Innovation is further driven by the Nuclear Energy Mission, with a dedicated Rs.20,000 crore ($2.4 billion) allocation for SMR R&D and deployment. The initiative targets at least five indigenously designed SMRs by 2033, creating a flexible, localized power generation market.
Scaling the Supply Chain: The 'Make in India' Nuclear Advantage
India’s decades-long indigenous nuclear program has achieved strong industrial maturity, spanning the full fuel cycle—from uranium exploration to heavy water production and instrumentation. This expertise now supports India’s emergence as a globally certified manufacturing hub under the “Make in India” initiative.
India’s manufacturing excellence is proven by international standards compliance and export success. Larsen & Toubro (L&T), the nation’s largest engineering group, holds full authorization from the American Society of Mechanical Engineers (ASME) to use the entire range of ‘N’ stamps, enabling nuclear component design and manufacture to US standards. L&T has delivered export orders for Dry Shielded Canisters to utilities in the US and Switzerland, adhering to the US Code of Federal Regulations (10 CFR) and Nuclear Safety Class 1 standards. This track record confirms Indian manufacturers are globally qualified, cost-competitive, and well positioned as a vital low-cost link in the international nuclear equipment supply chain.
Supporting this strength, MTAR Technologies has contributed for over 40 years, supplying complex, high-precision assemblies like Fuel Machining Heads and Drive Mechanisms for indigenous Pressurized Heavy-Water Reactors (PHWRs). This strong domestic base is critical to meeting the projected $2.31 billion nuclear power equipment market by 2033.
The focus on indigenous Small Modular Reactors (SMRs), particularly the 200 MWe Bharat Small Modular Reactor (BSMR-200), opens a high-value commercial market. Designed for captive power in energy-intensive sectors such as steel, cement, and aluminium—under growing decarbonization pressure—these reactors ensure steady demand for standardized modular units. This creates a sustainable revenue stream beyond grid projects, while integrating Indian manufacturers into the global nuclear supply chain helps international partners overcome component bottlenecks in large-scale, multi-decade buildouts.
Global Partnerships and Technology Localization
India’s international collaborations have shifted from transactional procurement to co-development alliances that enhance self-reliance and technological leadership. These partnerships benefit both sides, giving global vendors access to India’s growing market while leveraging India’s unique scientific and engineering IP, particularly in the thorium fuel cycle. Recent agreements highlight this strategic shift:
United States: Efforts focus on fully implementing the US-India 123 Civil Nuclear Agreement, including US-designed reactors and joint R&D in advanced reactors and materials science. Regulatory clearance now allows the transfer of unclassified SMR technology, enabling rapid market entry for US vendors. Holtec International’s co-production of specialized spent fuel storage racks in India via Holtec Asia strengthens the domestic supply chain and aligns with the Atmanirbhar Bharat (Self-Reliant India) mission.
France: A 2025 Letter of Intent formalizes collaboration on SMR and Advanced Modular Reactor (AMR) development. The partnership also includes advanced training for Indian engineers on projects like the European Pressurized Reactor (EPR), aligning skill development with long-term technological needs.
These R&D and structured training programs—including those with Russia for Kudankulam—are rapidly upskilling India’s high-tech workforce. Private sector participation further drives growth by offering competitive pay and modern career paths. By jointly developing next-generation nuclear systems, India is positioning itself not just as an operator of imported technology but as a future exporter of nuclear expertise, especially in advanced reactors.
The Innovation Frontier: Start-ups, Advanced Materials, and Digital Systems
To meet the efficiency, safety, and rapid deployment needs of the 100 GW target, especially for SMRs, India is fostering a high-tech start-up ecosystem. The Department of Atomic Energy (DAE) has licensed over 800 know-how spin-offs to around 600 transferees, reflecting a long-standing commitment to technology transfer.
This commitment is formalized through four Atal Incubation Centres (AICs) at premier DAE units, including BARC and IGCAR, which act as accelerators translating DAE expertise into market-driven products via start-up collaborations. start-ups are key to integrating Industry 4.0 technologies into the nuclear supply chain:
Advanced Manufacturing (AM): Additive Manufacturing (3D printing) enables rapid prototyping and customization of parts, supporting standardized, low-cost, repeatable production for SMRs.
Digital Systems: Digital Twin Technology allows virtual modeling and optimization of complex nuclear systems, enhancing safety, predicting system behavior, and optimizing maintenance—reducing downtime and increasing commercial viability.
Blueprint for Success: Replicating Entrepreneurial Triumphs
India’s confidence in transforming the nuclear sector draws on proven success from liberalization and private sector integration in other high-tech domains.
The Space Sector provides a strong parallel. Policy reforms in 2020 opened the industry to private players and established regulatory facilitation through IN-SPACe, attracting over 200 private companies. This liberalization is expected to grow India’s space economy from $8.4 billion to $44 billion by 2033. Science and Technology Minister Jitendra Singh has noted that a similar policy approach could accelerate nuclear sector growth, highlighting structural reforms as key to scaling.
Similarly, Renewable Energy and Climate Tech illustrate the impact of India’s policy architecture. Driven by ambitious targets—500 GW of non-fossil fuel capacity by 2030—and favorable policies, the solar sector has seen a 30-fold capacity increase since 2014. The Climate Tech sector now hosts 4,750 environment-tech companies, raising $13.1 billion, demonstrating investor confidence in scalable, mature ventures.
The government is applying this formula to nuclear energy by setting a 100 GW target, introducing policy interventions (AEA/CLNDA amendments), and providing regulatory and incubation support via DAE AICs. For global investors, this consistent policy framework signals a predictable path to market and strong government commitment to commercial viability.
Confident Business Outlook: India as a Global Nuclear Hub
India’s nuclear sector sits at the intersection of rising domestic energy demand, world-class manufacturing, and agile technological innovation, positioning the country as a strategic global hub for nuclear development.
This role is underpinned by a high-quality, internationally certified manufacturing base capable of meeting stringent global standards. Coupled with policies diversifying the vendor base, this ensures supply chain resilience and global competitiveness.
Prioritizing indigenous SMR development (BSMRs) is creating export-ready reactors optimized for rapid, cost-effective deployment. India is strategically emerging as a leader in shaping the nuclear future of the Global South, where its modular, reliable designs appeal to nations pursuing sustainable industrialization.
Opportunities for global partners span the value chain: co-development of advanced reactors, joint R&D, critical material supply, and leveraging India’s high-volume manufacturing for international projects. India is transitioning from a nuclear consumer to an exporter of expertise, components, and innovative reactor technology. The window for long-term strategic partnerships is open, marking India as a key destination for nuclear investment and industrial growth.
