USIBC, KPMG India Release Nuclear Energy Roadmap for India’s 2047 Clean Energy Vision

The US–India Business Council and KPMG have jointly launched 'Atoms for Net-Zero', a report outlining India’s pathway to achieving 100 GW of nuclear power capacity by 2047. The report positions nuclear energy as a key pillar for India’s energy security, industrial growth, and net-zero ambitions amid rising electricity demand from manufacturing, digital infrastructure, AI, and clean-fuel sectors.

The report highlights the growing importance of the India–US energy partnership in accelerating nuclear deployment through collaboration in technology, fuel supply, manufacturing, and regulatory alignment. It notes that India has the potential to emerge not only as a major nuclear deployment market but also as a global hub for nuclear manufacturing and innovation.

According to the report, India’s nuclear sector is entering a transformative phase following the introduction of the SHANTI Act, 2025, which replaces older legislation with a modern framework allowing private sector participation while maintaining sovereign oversight on fuel cycle and safety functions. The reforms are further supported by the National Nuclear Energy Mission and a proposed INR 20,000 crore investment aimed at accelerating indigenous Small Modular Reactor (SMR) development.

Based on consultations with industry stakeholders in India and the United States, the report identifies strong demand for nuclear power while stressing that execution capabilities will determine the pace of growth. It states that nuclear energy will play a crucial role in providing firm and dispatchable clean power to complement renewable energy and support energy-intensive sectors such as data centres, AI infrastructure, and heavy industries.

The report adds that although industry interest already exceeds the 100 GW target, investments will depend on bankable project structures, predictable approvals, long-term power offtake arrangements, and effective risk-sharing mechanisms. Conventional reactor technologies such as PHWRs and LWRs are expected to drive near- and medium-term capacity additions, while SMRs are projected to support industrial heat applications, captive power, hydrogen production, and niche energy requirements.

It also warns that execution readiness, including supply chains, manufacturing capabilities, fuel assurance, workforce development, and waste management systems, could become key constraints as India scales its nuclear ambitions.

Rahul Sharma, Managing Director – India at US–India Business Council, said that India’s roadmap for nuclear energy has gained momentum through institutional reforms such as the SHANTI Act and the Nuclear Energy Mission, adding that the focus must now shift toward execution, partnerships, and bankable delivery models.

Anish De, Global Head – Energy, Natural Resources & Chemicals at KPMG, said that nuclear power can become a foundational component of India’s clean energy system by delivering reliable low-carbon electricity and industrial heat at scale. He added that predictable regulations, financing structures, and standardised technology pathways will be critical for mobilising private investment.

The report concludes that policy certainty, industry collaboration, and inclusion of nuclear energy within green finance frameworks will be essential to unlock large-term capital flows and position India as a major contributor to the global clean energy transition.